...Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Louisiana Local Government Environmental Facilities and Community Development Authority's (LCDA) series 2012 revenue bonds, issued for Plaquemines Parish. At the same time, we affirmed our 'A+' long-term rating on Louisiana LCDA's previously issued revenue bonds. The outlook on all ratings is stable. Officials intend to use series 2012 revenue bond proceeds to fund the construction of a new parish courthouse. Under an agreement with LCDA, a pledge of the parish's lawfully available funds solely secures the bonds. Although the agreement is binding and cannot be terminated due to nonappropriation, the parish has not pledged its full faith and credit to repaying the bonds; therefore, we rate the series 2012 revenue bonds one notch below the parish's implied general obligation (GO) debt. The rating reflects our view of the parish's: + Strong local economy anchored by the oil and gas and food service industries, reflected...
