Austin, TX – August 12, 2008 – The independent bond rating service Standard & Poor’s upgraded the Austin Community College District credit rating from AA to AA+, citing the college’s good financial performance and increased resources.“An improved bond rating is an indication of ACC’s growing financial strength and favorable outlook for the future,” said Neil Vickers, associate vice president of finance and budget.

The move will result in significant savings, he noted.

“Higher bond ratings allow the district to issue bonds at lower interest rates, saving students and taxpayers money in funding capital improvements and campus expansions, such as the soon-to-be built Round Rock Campus.”

The rating applies to standard long-term bonds and existing limited-tax bonds, including the $121.5 million series 2008 lease revenue bonds issued for ACC’s Public Facility Corp. to fund the new campus.

According to the Standard & Poor’s finance report, the ratings reflect the general creditworthiness of the district, and the annual appropriation risks associated with the lease payments. The district’s AA+ long-term rating continues to reflect the deep and diverse property tax base, continued strong demand for district offerings, electorate-supported tax increases and bond programs, and adequate financial operations.