Standard&Poor's Ratings Services confirmed its 'AAA/A-1' rating on Austin, Texas' series 2008A and 2008B hotel occupancy tax subordinate lien variable-rate revenue refunding bonds, due to the bank facility being extended to Oct. 15, 2017. The long-term component of the rating is based jointly (assuming low correlation) on the ratings on the obligor, Austin, and the letter of credit provider, JPMorgan Chase Bank N.A. The short-term component of the rating is based solely on the rating on JPMorgan Chase Bank N.A. USPF Criteria: Municipal Applications For Joint Support Criteria, June 25, 2007 Criteria: Joint Support Criteria Update, April 22, 2009 Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009
