Standard&Poor's Ratings Services revised it rating on Austin, Texas' airport system refunding revenue bonds series 2005 to 'AAA/A-1+' from 'AAA', following the conversion of the bonds from the auction-rate mode to the weekly mode and the addition of a standby liquidity facility provided by Dexia Credit Local (AA/A-1+), which a standby bond purchase agreement (SBPA). The long-term component of the rating is based on a bond insurance policy provided by Financial Security Assurance Inc. (AAA), which represents the likelihood that debt service will be paid over the life of the issue. The short-term component of the rating represents the likelihood of payment of tenders and reflects a liquidity facility, which is a SBPA provided by Dexia Credit Local
