Standard&Poor's Ratings Services assigned its 'A' rating and stable outlook to St. Charles Parish Hospital Service District No. 1, La.'s series 2009A and series 2009B general obligation (GO) bonds. In addition, Standard&Poor's affirmed its 'A' rating and stable outlook on the district's GO bonds outstanding. The rating is based on our opinion of the establishment of a deposit trust agreement (DTA) whereby collections from the unlimited ad valorem property tax securing the bonds will flow directly from the tax collector to a trustee for the exclusive benefit of bondholders. Standard&Poor's received a legal opinion that states that the creation of the DTA effectively transfers the property of the dedicated ad valorem property tax collections
