DALLAS (Standard&Poor's) Nov. 8, 2006--Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Austin, Texas' parity separate-lien water and wastewater utility system revenue debt one notch to 'A+' from 'A' based on the system's substantial completion of major capital efforts, including growth-driven treatment capacity expansions and regulatory-driven efforts to address sanitary sewer system overflows. The outlook remains stable. The rating service also assigned its 'A+' standard long-term rating, and stable outlook, to the city's $135 million series 2006A separate-lien water and wastewater system revenue refunding bonds. The bonds are scheduled to sell on Nov. 16. The ratings continue to reflect the city's service area, which is not concentrated in revenues derived from its principal customers and
