Standard&Poor's Ratings Services lowered its rating on St. Charles Parish Hospital Service District No. 1, La.'s GO debt one notch to 'BBB' from 'BBB+', based on continued weak operational margins and liquidity, which may come under increased pressure as a result of expansion of the district's facilities. The outlook remains stable. In addition, Standard&Poor's assigned its 'BBB' rating to the district's series 2007 GO bonds, with a stable outlook. An unlimited ad valorem tax pledge of the district, which is coterminous with St. Charles Parish, La. (A/Stable), secures the series 2007 bonds. In addition, the rating reflects the district's highly concentrated economy and property tax base, which is centered on oil and chemical refineries. The parish's
