Summary: Louisiana Pub Fac Auth; Public Finance Structured, Letter of Credit

The long-term rating on Louisiana Public Facilities Authority's bonds is based on a forward purchase agreement (FPA) provided by Société Générale ('AA-/A-1+') for payment of principal and interest on the bonds. The short-term rating is based on a standby bond purchase agreement (SBPA) also provided by Société Générale for tenders. The bonds are issued in a weekly rate mode and are subject to mandatory redemptions and mandatory and optional tenders. The FPA will fund all shortfalls between assets and revenues held under the trust estate and principal and interest payments due on bonds. All assets and revenues used to pay bonds consist of money not subject to preference or stay under the U.S. bankruptcy code. The FPA expires on June

Summary