Standard&Poor's Ratings Services affirmed its 'AA-' standard long-term rating and Standard&Poor's underlying rating (SPUR), with a stable outlook, on Austin, Texas' combined-lien electric system revenue bonds and its 'A+' SPUR, with a stable outlook, on the city's separate-lien electric system revenue bonds. The ratings reflect the electric system's: Diversified generation resource mix that consists of coal and efficient nuclear for base load, with the addition of a combined cycle unit in 2004 that allowed the city to subsequently retire older, less-efficient units -- the last of which was retired in 2007; Competitive rates with a separate cost-recovery component that allows Austin Energy to true-up for fuel costs or purchased-power costs; Solid combined debt service coverage (DSC)
