Standard&Poor's Ratings Services assigned its 'A+' rating to Louisiana Public Facilities Authority's revenue refunding bonds series 2007, issued for the department of public safety project. At the same time, Standard&Poor's affirmed its 'A+' underlying rating (SPUR) on the authority's series 1999 and 2001 revenue bonds, which are expected to be refunded with the proceeds of this 2007 issue. 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
