Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to Austin, Texas' series 2009A public improvement refunding bonds, series 2009B taxable public improvement refunding bonds, series 2009 certificates of obligation, and series 2009 public property finance contractual obligations and affirmed its 'AAA' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing general obligation (GO) debt. We raised the ratings to 'AAA' in January 2008 based on the likelihood that the city's employment base and fiscal policies should allow it to maintain its strong financial condition even during economic fluctuations such as the current recession. Factors that support the ratings include the city's: Strong and diverse economic base, anchored by state government
