Standard&Poor's Ratings Services raised its rating on Mueller Local Government Corp., Texas' revenue bonds, supported by Austin, Texas, one notch to 'AA+' from 'AA'. The outlook is stable. Standard&Poor's also assigned its 'AA+' rating, and stable outlook, to Mueller Local Government Corp.'s series 2009 contract revenue bonds, supported by Austin. The upgrade reflects our upgrade of Austin's general obligation (GO) debt rating to 'AAA' in 2008. A master indenture that created a first-lien pledge on the sales and use tax revenues generated in the reinvestment zone Mueller Local Government Corp. is tasked with improving secures the bonds. A grant agreement between Mueller Local Government Corp. and the city, to whose general fund the revenues would otherwise
