The rating on Louisiana Public Facilities Authority's equipment and capital facilities pooled loan program revenue bonds series 2003A has been raised to 'AAA/A-1+' from 'AA+/A-1+'. This action follows Standard&Poor's Ratings Services April 15, 2004, upgrade of Hibernia National Bank, the letter of credit provider, to 'A-/A-2' from 'BBB-/A-2'. The rating is based on joint criteria applied to an irrevocable front line LOC from Hibernia National Bank of New Orleans ('A-/A-2') and a LOC from Lloyds TSB ('AA/A-1+'). Complete ratings information is available to subscribers of RatingsDirect, Standard&Poor's Web-based credit analysis system, at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard&Poor's public Web site at www.standardandpoors.com; under Credit Ratings in
