S&P Global Ratings assigned its 'AA' long-term rating to Austin , Texas' $529.3 million series 2026 water and wastewater system revenue refunding and improvement bonds. At the same time, we affirmed our 'AA' long-term rating and underlying rating (SPUR) on the city's water and wastewater system revenue debt outstanding. In addition, we affirmed our 'A-1+' short-term rating on the city's combined utility systems' $600 million tax-exempt commercial paper (CP) notes and $100 million taxable CP notes. The outlook, where applicable, is stable. The bond proceeds will be used to refund approximately $450 million tax-exempt CP into long-term debt, refund series 2015A bonds for interest cost savings and fund an additional $50 million of system capital improvements. The City of Austin
