Standard&Poor's Ratings Services 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, with a stable outlook, on San Miguel. The long-term rating reflects the general creditworthiness of San Miguel as the ultimate obligor. The Jourdanton, Texas generation and transmission (G&T) cooperative had $190.2 million in debt outstanding as of Dec. 31, 2010. San Miguel's credit rating reflects a number of credit strengths including: Take-or-pay wholesale power contracts through mid 2020 with two creditworthy counterparties -- Brazos Electric Cooperative Inc. (Brazos; 'A-/Stable'
