DALLAS (S&P Global Ratings) May 5, 2016--S&P Global Ratings corrected by lowering its long-term rating on Austin, Texas' series 2016 separate lien water and wastewater system revenue refunding bonds to 'AA' from 'AA+'. The outlook is stable. RELATED CRITERIA AND RESEARCH Related Criteria USPF Criteria: Rating Methodology And Assumptions For U.S. Municipal Waterworks And Sanitary Sewer Utility Revenue Bonds, Jan. 19, 2016 USPF Criteria: Assigning Issue Credit Ratings Of Operating Entities, May 20, 2015 USPF Criteria: Appropriation-Backed Obligations, June 13, 2007 Criteria: Use of CreditWatch And Outlooks, Sept. 14, 2009 Related Research U.S. State And Local Government Credit Conditions Forecast, Jan. 11, 2016