The 'A-' Standard&Poor's underlying rating (SPUR) on Louisiana Public Facilities Authority's revenue refunding bonds, issued for the Medical Center of Louisiana at New Orleans--University Hospital Facility project, is based on the pledge of lease-rental payments to be made by the state of Louisiana to the department of health and hospitals. The bonds will refund series 1992 bonds outstanding and fund a debt service reserve fund. The project is a 461-bed facility known as Hotel Dieu Hospital. The facility was purchased in 1992 from the Daughters of Charity; the facility and the charity hospital make up the Medical Center of Louisiana at New Orleans. It remains an integral part of the clinical education network in the state, as well
