S&P Global Ratings assigned its 'A+' long-term rating to Austin , Texas' approximately $309 million series 2026A and $894 million series 2026B, airport system revenue bonds issued for Austin-Bergstrom International Airport (AUS) . We also affirmed our 'A+' rating on Austin's outstanding airport revenue bonds and our 'A' rating on the city's hotel revenue bonds issued for Austin-Bergstrom Landhost Enterprises Inc. (ABLE). The outlook is stable. A first lien on the system's net revenues secure the airport revenue bonds. Bondholders benefit from a cash-funded debt service reserve, which is equal to average annual debt service requirements. The rate covenant requires net revenues and other available funds equal to 1.25x prior-lien bond and revenue bond debt service. Net hotel revenue secures
