Standard&Poor's Ratings Services assigned its 'A+' standard long-term rating, and stable outlook, to Austin, Texas', doing business as Austin Water Utilities, series 2007 separate-lien water and wastewater system revenue refunding bonds and affirmed its 'A+' standard long-term rating and Standard&Poor's underlying rating (SPUR), with a stable outlook, on the city's parity separate-lien water and wastewater utility system revenue debt. The ratings continue to reflect the city's: Service area, which is not concentrated in revenues derived from its principal customers and continues to exhibit steady customer growth and very solid overall wealth and income levels; Water supply agreement with Lower Colorado River Authority that in 1999 effectively secured a 100-year water supply at a reasonable cost; and
