Wachovia MERLOTS 2008D59, relating to Austin, Texas (Travis and Williamson counties) electrical utility system revenue refunding bonds series 2006, are rated 'AAA/A-1+'. The long-term component of the rating is based on the FSA-insured underlying bonds. The short-term component of the rating is based on the liquidity facility provided by Wachovia Bank N.A. until Feb. 20, 2009. The stable outlook is based on the bond insurer, FSA.