Standard&Poor's affirmed its 'A-' long-term rating, with a stable outlook, on the Atascosa County Industrial Development Corp. (IDC), Texas; series 2008 variable-rate pollution control refunding revenue bonds, issued for San Miguel Electric Cooperative Inc. (San Miguel). At the same time, we affirmed our 'A-' issuer credit rating (ICR), with a stable outlook, on San Miguel. The long-term rating reflects the general creditworthiness of San Miguel as the ultimate obligor. The Jourdanton-based generation and transmission (G&T) cooperative had $170 million in debt outstanding as of Dec. 31, 2013. The ICR on San Miguel reflects a number of credit strengths, including: Take or pay wholesale power contracts through 2037 with two creditworthy counterparties-- Brazos Electric Power Cooperative Inc. (A/Stable ICR)
