DALLAS (Standard&Poor's) Jan. 29, 2003--Standard&Poor's Ratings Services today assigned its 'A-' rating and positive outlook on Austin, Texas' $88.5 million series 2003A electric utility system revenue refunding bonds and $101.5 million series 2003 electric utility system revenue refunding bonds. The bonds are scheduled to sell on Feb. 5. At the same time, the rating agency affirmed its 'A-' and 'A' standard long-term ratings and 'A' Standard&Poor's underlying rating (SPUR) and 'A-' SPUR on the city's debt outstanding. "Standard&Poor's expects that continued debt restructuring and the implementation of a successful risk-management program in summer 2003 will likely lead to an upgrade in both the prior combined lien and electric utility system bonds," said
