Standard&Poor's Ratings Services assigned its 'A+' long-term rating to Louisiana Public Facilities Authority's $100 million series 2012B fixed-rate hospital revenue bonds to be issued for Franciscan Missionaries of Our Lady Health System (FMOLHS). At the same time, Standard&Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR), where applicable, on bonds issued for FMOLHS. Standard&Poor's also affirmed its 'AAA/A-1' dual rating on FMOLHS' series 2008A and 2005B bonds. The dual rating is based on low-correlation joint support provided by irrevocable direct-pay letters of credit (LOCs) from JPMorgan Chase Bank N.A. (A+/A-1). The outlook on all ratings, where applicable, is stable. The rating assignment reflects a solid business position, which we anticipate will remain stable
