Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to Austin, Texas' hotel occupancy tax subordinate-lien variable-rate revenue refunding bonds series 2005. The long-term component of the rating is based on a bond insurance policy provided by CIFG Assurance North America, Inc. ('AAA'). The bond insurance covers principal of, and interest on, the bonds for regularly scheduled debt service payments. The short-term component of the rating is based on a SBPA provided by Dexia Credit Local ('AA/A-1+') for the daily and weekly modes. The SBPA provides coverage for the purchase price of unremarketed tendered bonds, including up to 35 days' interest at an interest rate of 10% annually. The SBPA is scheduled to terminate on Dec. 29, 2015. For the
