DALLAS (Standard&Poor's) Jan. 29, 2003--Standard&Poor's Ratings Services today assigned its 'A-' rating and positive outlook to Austin, Texas' $126 million series 2003 water and wastewater system revenue refunding bonds. The bonds are scheduled to sell on Feb. 5. At the same time, the rating agency affirmed its 'A-' Standard&Poor's underlying rating (SPUR) on the system's series 2000, 2001A, 2001B, 2001C, and 2002A water and wastewater system revenue refunding bonds outstanding. "Standard&Poor's expects the electric utility, Austin Energy, to successfully implement a comprehensive risk management program by summer 2003, which is important given Austin Energy's role in the overall security of the large amount of prior lien combined electric, water, and wastewater debt,"
