Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Austin, Texas' series 2010 public improvement refunding bonds. At the same time, Standard&Poor's Ratings services affirmed its 'AAA' rating on the city's outstanding general obligation (GO) debt. The outlook on all ratings is stable. 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. Through the middle of 2010, the city's unemployment rate of 7.4% -- virtually unchanged over the last year -- continues to best the state and national levels, and we understand that the city expects
