Wachovia Merlots, series 2006D10, relating to City of Austin, Texas, water and wastewater system revenue refunding bonds, series 2006A , are rated 'AAA/A-1+'. The long-term component of the rating is based on the 'AAA' rated, FSA-insured underlying bond. The short-term component of the rating is based on the liquidity facility provided by Wachovia Bank N.A. until Dec. 13, 2007. The stable outlook is based on the outlook of the bond insurer.