Standard&Poor's Ratings Services affirmed its 'A+' rating, and stable outlook, on the Louisiana Public Facilities Authority's series 2007 revenue refunding bonds issued for the Department of Public Safety project. Rating factors include our opinion of: Clear legislative support for the projects and the financing, The revenue stream's broad-based nature, Good coverage 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, and amended by
