S&P Global Ratings assigned its ?AA-? rating to the Louisiana Office Facilities Corporations (OFC) approximately $75 million series 2025 lease revenue bonds (Northwest Louisiana State Office Building Project). The outlook is stable. Lease payments, subject to annual appropriation, made under a lease agreement between the OFC and Louisiana secures the bonds. Bond proceeds will fund a major renovation of an existing office building in Shreveport. The facility will be leased by the OFC to the state, acting through the Division of Administration (DOA) of the State of Louisiana. The DOA is required to pay rental payments in an amount sufficient to pay debt service. Rental payments under the agreement are subject to and dependent upon annual appropriation by the legislature
