Standard&Poor's Ratings Services affirmed its 'AA+' rating, with a stable outlook, on Mueller Local Government Corp., Texas' series 2006 and 2009 contract revenue bonds, issued for Austin, Texas. The rating on both series is based on the strength of the city's appropriation pledge. An indenture that creates a first-lien pledge on tax-increment revenues generated in the reinvestment zone that Mueller Local Government Corp. is tasked with improving secures the series 2009 bonds. It is the intent of city officials to appropriate sales tax revenues generated within the reinvestment zone as payment for the series 2006 bonds. Should either of those revenue streams be insufficient to pay debt service and related costs on the respective bond issues, the city
