S&P Global Ratings affirmed its 'A-' rating on the City of Austin, Texas' rental car special facility revenue bonds, taxable series 2013. The outlook is stable. The rating reflects our assessment of the following factors: Strong fiscal 2015 debt service coverage levels from annual customer facility charges (CFC) that we expect to continue based on reasonable projected traffic trends; Austin-Bergstrom International Airport's (AUS) strong origin and destination market (95%), with a very strong passenger traffic growth of 4.1% a year since 2004 that reached an all-time high of 5.8 million in 2015; The airport's strong and increasing service area benefits from a strong economy with a low unemployment rate, an increasing population, and high income levels; and The bonds' financing
