(Editor's note: This article was originally published Aug 1, 1997. It is being republished now for RatingsDirect.) The `A" rating on Austin, Texas' bonds reflects: Combined utility's historically strong financial performance, Diverse service area economy, and Strong legal provisions. The outlook highlights uncertainties surrounding the future competitive position of the electric utility, particularly with regard to commercial and industrial rates, as changes in the electric industry occur at the wholesale and retail level. The system has made significant progress recently as the city council has passed a resolution that articulates its strategy for becoming more competitive over the next 10 years. Achievement of the targeted goals would mitigate Standard&Poor's concerns regarding the rating. However, any delays in execution,
