NEW YORK (Standard&Poor's) April 3, 2014--Standard&Poor's Ratings Services has raised its rating on Louisiana Public Facilities Authority's series 1989B Fannie Mae-collateralized multifamily capital appreciation bonds, issued for Walmsley Housing Corp. - Cascade&Rock Creek Apartments, by two notches to 'AA-' from 'A'. The outlook is stable. This action follows Standard&Poor's Dec. 16, 2013, raising of its subordinated debt rating on Fannie Mae by two notches to 'AA-' from 'A'. (See, "Fannie Mae And Freddie Mac 'AA+/A-1+' Senior Debt Ratings Affirmed; Subordinated Debt Ratings Raised To 'AA-' From 'A'", published Dec. 16, 2013, on RatingsDirect.) The 'AA-' rating on the 1989B bonds is based on the 'AA-' rating on the underlying custodial receipts --
