Standard&Poor's Ratings Services assigned its 'AAA' rating to Austin, Texas' series 2011A public improvement refunding bonds and taxable series 2011B public improvement refunding bonds. At the same time, Standard&Poor's Ratings services affirmed its 'AAA' on the city's general obligation (GO) debt outstanding. We also affirmed our 'AA+' rating on the city's existing appropriation debt. The outlook on all ratings is stable. Factors that support the 'AAA' ratings include the city's: Strong and diverse economic base, anchored by state government and higher education; the economic base has also deepened and diversified measurably since the IT sector downturn from 2000 to 2002; Strong financial management, including maintenance of high reserve levels and codified policies that limit the use
