S&P Global Ratings affirmed its 'A-1+' short-term rating on Austin, Texas' combined utility systems' $600 million tax-exempt commercial paper (CP) program notes. In addition, we affirmed our 'A-1+' short-term rating on the city's combined utility system's $100 million taxable CP program. The city of Austin owns and operates a water and wastewater system, Austin Water (AW), as well as an electric utility system, Austin Energy (AE), which provide the city, as well as adjoining areas of Travis County and certain adjacent areas of Williamson County, with electric, water, and wastewater services. The CP notes are secured by a pledge of combined net revenue from AW and AE. The CP notes are subordinate to separately secured senior lien debt issued by
