DALLAS (Standard&Poor's) April 12, 2010--Standard&Poor's Ratings Services raised its rating on Austin, Texas' series 2005 vehicle rental tax fund refunding bonds, issued for the Town Lake Park community events center venue project to 'A' from 'A-'. "The upgrade is based on the strong legal provisions and the maintenance of very strong debt service coverage despite a recent decline in pledged revenues," said Standard&Poor's credit analyst Horacio Aldrete-Sanchez. We believe that the fact that pledged revenues are collected on citywide rental car transactions has contributed to a relatively modest decline in tax collections compared to the double-digit decline in passenger enplanements at the airport, where a significant portion of rental-car transactions occur. The rating reflects
