Summary: Austin, Texas; Appropriations; General Obligation

S&P Global Ratings assigned its 'AAA' rating to the City of Austin, Texas' series 2018 public-improvement bonds, series 2018 certificates of obligation, series 2018 public property finance contractual obligations, and series 2018 taxable public-improvement bonds. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the city's general obligation (GO) debt and certificates of obligation outstanding. The outlook is stable. In addition, S&P Global Ratings affirmed its 'AA+' rating on Mueller Local Government Corp.'s appropriation debt, supported by the city. The outlook is stable. The certificates of obligation, public-improvement bonds, and public property finance contractual obligations are payable from an ad valorem tax, levied within the limits prescribed by law, on all taxable property within Austin. Under our

...S&P Global Ratings assigned its '###' rating to the City of Austin, Texas' series 2018 public-improvement bonds, series 2018 certificates of obligation, series 2018 public property finance contractual obligations, and series 2018 taxable public-improvement bonds. At the same time, S&P Global Ratings affirmed its '###' rating on the city's general obligation (GO) debt and certificates of obligation outstanding. The outlook is stable. In addition, S&P Global Ratings affirmed its '##+' rating on Mueller Local Government Corp.'s appropriation debt, supported by the city. The outlook is stable. The certificates of obligation, public-improvement bonds, and public property finance contractual obligations are payable from an ad valorem tax, levied within the limits prescribed by law, on all taxable property within Austin. Under our ratings-linked criteria, we view the limited-tax GO debt pledge on par with the city's general creditworthiness. Officials will use series 2018 certificate proceeds...

Summary