DALLAS (Standard&Poor's) Jan. 23, 2008--Standard&Poor's Ratings Services raised its standard long-term rating and Standard&Poor's underlying rating (SPUR) one notch, to 'AAA', on Austin, Texas' outstanding GO debt. At the same time, Standard&Poor's assigned its 'AAA' standard long-term rating to the city's series 2008 public improvement refunding bonds. The upgrade affects approximately $781.5 in outstanding GO bonds. The outlook is stable. "The upgrade is based on management's maintenance of strong reserve levels, established by policy, that would likely allow the city to sustain its elevated financial condition even in the event of fiscal stresses such as the IT sector downturn that the Austin MSA suffered through from 2000 to 2002," said Standard&
