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Austin, Texas; Water/Sewer Nov 11 Product Image

Austin, Texas; Water/Sewer Nov 11

  • Published: November 2011
  • Region: Texas
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AA' long-term rating and stable outlook to Austin, Texas' series 2011 water and wastewater system revenue refunding bonds. We also affirmed the 'AA' long-term rating and underlying rating (SPUR) on the parity separate-lien debt of the system, which does business as Austin Water Utility (AWU). The outlook is stable. The ratings reflect the system's general creditworthiness, including its: Service area, which is not concentrated in revenues derived from its principal customers and continues to exhibit steady customer growth and very solid wealth and income levels; Water supply agreement with Lower Colorado River Authority in 1999, effectively securing a 100-year water supply at a reasonable cost, and which has not been interrupted even during...

Companies mentioned in this report are:
- Austin

Action: New Rating

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