NEW YORK (Standard&Poor's) Sept. 25, 2008--Standard&Poor's Ratings Services has assigned its 'AA' rating to San Antonio, Texas' electric and gas systems' $319.44 million revenue refunding bonds, series 2008A. Proceeds will refund $335.7 million of par value 1998A bonds. At the same time, Standard&Poor's affirmed its 'AA' rating on San Antonio's $3 billion senior lien electric and gas revenue and refunding bonds, its 'AA-/A-1+' rating on the $402 million electric and gas systems junior lien revenue bonds, and its 'A-1+' rating on tax-exempt commercial paper (CP) program. The outlook is stable. The CP rating is linked to the long-term debt rating. "The ratings reflect a strong, growing economy; very competitive electricity rates; economic and diverse
