OVERVIEW Louisiana Public Facilities Authority's bond issuance is an ABS securitization backed by student loans that are at least 97% federally reinsured. We assigned our 'AAA (sf)' ratings to the series 2011A bonds. The 'AAA (sf)' ratings reflect our view of the transaction's initial parity, the U.S. federal government's reinsurance, and our stress assumptions and cash-flow modeling scenarios, among other factors. NEW YORK (Standard&Poor's) April 20, 2011--Standard&Poor's Ratings Services today assigned its 'AAA (sf)' ratings to Louisiana Public Facilities Authority's $509.0 million taxable student loan-backed bonds series 2011A. The bond issuance is an ABS securitization backed by student loans that are at least 97% federally reinsured. The ratings reflect: The transaction's initial parity of approximately 106.0%
