The Standard&Poor's Ratings Services raised its rating on Louisiana Public Facilities Authority's revenue refunding bonds, series 2002, issued for the Medical Center of Louisiana at New Orleans, University Hospital Facility project, to 'AAA/A' (SPUR) from 'A-', based on the pledge of lease-rental payments to be made by the State of Louisiana to the department of health and hospitals. Such rental payments are subject to annual appropriation. The 'A' rating reflects the general credit quality of the state, more specifically the state's: Improved financial profile, resulting from better budgeting performance and the prudent establishment and use of "rainy day" reserves; and Sustained commitment to reducing its moderate debt burden. Other factors supporting the rating include the state's: Cyclical, although
