Standard&Poor's Ratings Services has assigned its 'AA-' rating to the City of Austin, Texas' series 2015A and 2015B electric utility system revenue bonds. At the same time, Standard&Poor's affirmed its 'AA-' rating on Austin's parity separate-lien electric utility system revenue refunding bonds. The outlook is stable. The rating reflects our view of Austin's financial forecast that includes maintained strong debt service coverage levels. More specifically, the ratings reflect our assessment of the general creditworthiness of the system, known as Austin Energy, which includes its: Diversified generation resource mix of coal, gas, and efficient nuclear for base load; Competitive rate and a rate structure that also includes a separate cost-recovery component that allows the system to true-up
