Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to Louisiana Public Facilities Authority's (Franciscan Missionaries of Our Lady Health System Project) variable-rate hospital revenue refunding bonds series 2008A. The rating action is based on a direct-pay, irrevocable letter of credit (LOC) delivery, and the subsequent Standard&Poor's joint criteria application assuming low correlation between the Standard&Poor's 'A+' underlying rating (SPUR) on Franciscan Missionaries of Our Lady Health System and the LOC provider's financial strength rating on JPMorgan Chase Bank N.A. (AA/A-1+). Please see "Franciscan Missionaries Of Our Lady Health System Inc.," RatingsDirect, May 8, 2008, for further information on the SPUR. The LOC provides coverage for payment of principal and interest on the bonds for a
