S&P Global Ratings assigned its 'AA-' long-term rating to Austin , Texas' $433 million series 2025 electric utility system (d/b/a Austin Energy) revenue refunding bonds. At the same time, S&P Global Ratings affirmed its ?AA-? long-term rating and underlying rating (SPUR) on the electric utility system?s existing revenue debt. The outlook is stable. A pledge of the electric system's net revenue secures the system's electric revenue bonds. Management plans to use the series 2025 bond proceeds to refund the Austin Energy?s series 2015A bonds for interest cost savings and refund its outstanding commercial paper (CP) obligations. Austin Energy had $2.3 billion in total debt outstanding as of Sept. 30, 2024. Following approved base-rate increases in 2023 and 2024 combined with
