Standard&Poor's Ratings Services affirmed its 'A+' standard long-term ratings for Louisiana Public Facilities Authority's $79 million series 2005A fixed-rate bonds and $100 million series 2005B and C auction-rate securities, issued for Franciscan Missionaries of Our Lady Health System Inc., a five-hospital system in Louisiana. Standard&Poor's also affirmed its 'A+' underlying rating (SPUR) on the authority's $363.4 million of MBIA and FSA insured bonds, issued for the system. The 'A+' rating reflects: A solid balance sheet, characterized by unrestricted cash and investments of $792 million, a cash to long-term debt ratio of 1.7x, and 315 days' cash-on-hand as of March 31, 2007; Strong investment performance leading to an excess margin of more than 11% for the nine
