Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to Austin, Texas' series 2010A and 2010B (taxable) public improvement bonds, series 2010 certificates of obligation, and series 2010 public property finance contractual obligations. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing general obligation (GO), certificate of obligation, and public improvement debt. We raised the ratings to 'AAA' in January 2008 based on the likelihood the city's employment base and fiscal policies should allow it to maintain its strong financial condition even during economic fluctuations such as the current recession. Through the middle of 2010, unemployment of 7.4%, nearly unchanged over
