S&P Global Ratings affirmed its 'A-' rating on the Louisiana Local Government Environmental Facilities and Community Development Authority's series 2021, 2023A, and 2023B revenue bonds, issued for the Ragin' Cajun Facilities Inc. at the University of Louisiana at Lafayette (ULL). At the same time, S&P Global Ratings affirmed its 'BBB+' rating on the authority's series 2021, 2018, 2017, and 2012 lease appropriation bonds, issued on behalf of ULL. The outlook is stable. The 'A-' rated bonds are secured by student center fee revenue, which we view as equivalent to an unlimited student fee pledge given the broad application of the fee to all students, and which is therefore equivalent to our view of the university's general creditworthiness. The 'BBB+' rated
