DALLAS (Standard&Poor's) Nov. 2, 2011--Standard&Poor's Ratings Services said today it assigned its 'AA' long-term rating and stable outlook to Austin, Texas' series 2011 water and wastewater system revenue refunding bonds. We also affirmed the 'AA' long-term rating and underlying rating (SPUR) on the parity separate-lien debt of the system, which does business as Austin Water Utility. "The stable outlook reflects our expectation that management will continue to adjust rates proactively, and implement or continue other as-necessary policies in line with its to-be-adopted business model," said Standard&Poor's credit analyst Theodore Chapman. The ratings reflect the system's general creditworthiness, including its: Service area, which is not concentrated in revenues derived from its principal customers and continues
