Standard&Poor's Ratings Services affirmed its 'A+' standard long-term rating and 'A+' underlying rating (SPUR), with a stable outlook, on Austin, Texas' (doing business as Austin Water Utilities) separate-lien water and wastewater system revenue refunding bonds. The ratings 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, which in 1999 effectively secured a 100-year water supply at a reasonable cost; and Demonstrated willingness to adjust rates to help fund a capital improvement plan (CIP) that will continue to pressure rates further. Factors moderating these strengths include: The water and
