Standard&Poor's Rating Services has raised its long-term rating and underlying rating (SPUR) on San Antonio, Texas' passenger facility charge (PFC) and subordinate-lien airport system revenue bonds, issued for San Antonio International Airport (SAT), to 'A' from 'A-'. At the same time, Standard&Poor's assigned its 'A+' long-term rating and SPUR to San Antonio's airport system $39.3 million series 2015 revenue bonds, issued for SAT. The outlook is stable. We base the upgrade on our application of the criteria "Assigning Issue Credit Ratings Of Operating Entities," published May 20, 2015. Standard&Poor's has published these criteria to provide additional transparency related to the assignment of issue credit ratings on U.S. public finance debt instruments of operating entities,
