...Standard & Poor's Ratings Services assigned its '###' long-term rating to Austin, Texas' series 2015 taxable public improvement bonds, public improvement and refunding bonds, certificates of obligation, and public property finance contractual obligations. At the same time, Standard & Poor's affirmed its '###' long-term rating and underlying rating (SPUR) on the city's general obligation (GO) debt outstanding, as well as its '##+' long-term rating on Mueller Local Government Corp.'s existing appropriation debt, issued for Austin. The outlook is stable. The public improvement bonds, the certificates of obligation, and the public property finance contractual obligations are secured by revenue from an ad valorem tax levied, within the limits prescribed by law, on all taxable property located within the city. The certificates of obligation are additionally secured by a limited pledge of surplus revenue (not to exceed $1,000) of the city's solid-waste disposal system. Bond and certificate proceeds...
