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Austin, TX Revenue Bond Ratings Raised To 'AA' Dec 08
Standard & Poors, Dec 2008
Abstract
DALLAS (Standard & Poor's) Dec. 1, 2008--Standard & Poor's Ratings Services raised its standard long-term rating on Austin, Texas' existing first-lien combined electric, water and wastewater revenue bonds to 'AA' from 'AA-', and its standard long-term rating and underlying rating (SPUR) on Austin's existing parity separate-lien water and wastewater revenue bonds to 'AA' from 'A+'. Standard & Poor's also assigned its 'AA' standard long-term rating to the city's $160 million series 2008A revenue refunding bonds. The outlook on the ratings is stable. The upgrades are based on management's demonstrated willingness to adjust rates as necessary to maintain what we view as a strong overall financial position, including good debt service coverage of all liens. The first and subordinate liens are...
Companies mentioned in this report are: Austin
Action: New Rating
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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