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S&P Corrects And Lowers Rating On Austin, TX's Series 2008A Electric Utility System Bonds To 'AA+'

Published May 20, 2010

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Abstract:

NEW YORK (Standard&Poor's) May 20, 2010--Standard&Poor's Ratings Services corrected by lowering to 'AA+' from 'AAA' its long-term rating on Austin, Texas' series 2008A electric utility system revenue refunding bonds due Nov. 15, 2038. The outlook is stable. The bonds are guaranteed by a bond insurance policy from Berkshire Hathaway Assurance Corp (AA+/Stable). The bonds have an underlying rating (SPUR) of 'A+'. According to our criteria, the rating on a fully credit-enhanced bond issue is the higher of the rating on the credit enhancer and the SPUR on the bonds.

Report Type:

Ratings Action

Issuer

Austin

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

PDF

Austin, TX's Electric Utility System Revenue Refunding Bonds Series 2010A And 2010B Rated 'A+'; Other Ratings Affirmed – 2010/05/21 – US$ 150.00

Austin, Texas; Combined Utility; Retail Electric – 2010/05/21 – US$ 500.00

Summary: Austin, Texas; Combined Utility; Retail Electric – 2010/05/21 – US$ 225.00

Austin, Texas; General Obligation – 2010/08/19 – US$ 500.00

Summary: Austin, Texas; General Obligation – 2010/08/19 – US$ 225.00

S&P Corrects By Revising Outlook On Austin, TX's Series 2002A And 2006A Electric Bonds To Positive – 2010/05/20 – US$ 150.00

Summary: Austin, Texas; Joint Criteria – 2010/05/03 – US$ 225.00

Austin, TX Refunding Bond Rating Raised To 'A' From 'A-' On Very Strong Debt Service Coverage – 2010/04/12 – US$ 150.00

Summary: Austin, Texas; Miscellaneous Tax – 2010/04/12 – US$ 225.00

Summary: Austin, Texas; Letter of Credit – 2010/03/26 – US$ 225.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:	S&P Global Ratings’ Credit Research. "S&P Corrects And Lowers Rating On Austin, TX's Series 2008A Electric Utility System Bonds To 'AA+'" May 20, 2010. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-And-Lowers-Rating-On-Austin-TX-s-Series-2008A-Electric-Utility-System-Bonds-To-AA-799850>

APA:	S&P Global Ratings’ Credit Research. (). S&P Corrects And Lowers Rating On Austin, TX's Series 2008A Electric Utility System Bonds To 'AA+' May 20, 2010. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-And-Lowers-Rating-On-Austin-TX-s-Series-2008A-Electric-Utility-System-Bonds-To-AA-799850>

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