The long-term rating assigned to Louisiana Local Government Environmental Facilities and Community Development Authority's bonds, issued on behalf of Shreveport, is based on a bond insurance policy provided by MBIA and the short-term rating is based on a standby bond purchase agreement provided by The Chase Manhattan Bank. The standby bond purchase agreement expires on March 16, 2001, and provides principal and up to 35 days of interest coverage in the event that tendered bonds cannot be remarketed. The bonds initially will bear interest at a weekly variable interest rate but, upon mandatory tender and if the standby bond purchase agreement is to be in effect, a required increase in liquidity coverage may be converted to a term-rate period during,
