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 2016 debt service coverage (DSC) 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 3.8% a year since 2007 to reach an all-time high of 6.2 million in 2016; 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 that support the
