Standard&Poor's Ratings Services affirmed its 'AAA' long-term rating on Austin, Texas' existing general obligation (GO) bonds, based on our local GO criteria released Sept. 12, 2013. At the same time, we affirmed our 'AA+' underlying rating (SPUR) on the city's existing appropriation debt, issued by Mueller Local Government Corp. for Austin. The outlook is stable. The bonds are secured by a full faith and credit pledge of the city. The rating reflects our assessment of the city's: Very strong economy, with its projected per capita effective buying income at 107% of the U.S. and per capita market value of $105,231, despite the presence of institutions of higher learning and the large student population. Austin, with an estimated population
