S&P Global Ratings affirmed its 'AA+/A-1' rating on Austin, Texas' series 2008A hotel-occupancy-tax subordinate-lien variable-rate revenue refunding bonds. The rating action reflects our opinion of the replacement of the existing letter of credit (LOC) provided by Citibank N.A. with a new LOC provided by UBS AG, acting through its Stamford branch, on Oct. 5, 2021. The long-term component of the rating jointly reflects the rating of UBS AG, acting through its Stamford branch, and the underlying rating (SPUR) of the obligor, assuming low correlation. The short-term component of the rating solely reflects our short-term rating on UBS AG, acting through its Stamford branch. The LOC provided by UBS AG, acting through its Stamford branch, provides coverage for principal-and-interest payments on
