Standard&Poor's Ratings Services raised its rating on Louisiana Public Facilities Authority's (Franciscan Missionaries of Our Lady Health System Project) variable-rate hospital revenue bonds series 2005B to 'AAA/A-1+' from 'A+' based on the delivery of a direct-pay, irrevocable LOC upon the conversion of the bonds from an auction rate mode to a weekly rate mode and the subsequent application of low correlation joint criteria factoring in both the previous 'A+' long-term rating as the effective Standard&Poor's underlying rating (SPUR) for the health system and the financial strength rating of the LOC provider, JPMorgan Chase Bank N.A. (AA/A-1+). The effective date of the LOC is May 28, 2008. The LOC provides coverage for payment of principal and interest
