Standard&Poor's Ratings Services affirmed its 'A+' Standard&Poor's underlying rating (SPUR), and stable outlook, on Louisiana Public Facilities Authority's series 1999 and 2001 revenue bonds. Rating factors include: Clear legislative support for the projects and the financing, The revenue stream's broad-based nature, Good coverage at issuance despite some volatility in the revenue history, and Good legal provisions. An irrevocable first-lien pledge of handling fee revenues collected by the Louisiana Department of Public Safety and Corrections secures the bonds. Pledged revenues are the $5.50 handling fees collected by the department for a number of transactions, including driver's license renewals, identification cards, and vehicle registrations. By statute, Act No. 158 of 1998, the revenues can be used to secure
