S&P gives AAA/A-1+ to Lake Charles, La., bonds

Standard & Poor's said it assigned an AAA/A-1+ rating to Lake Charles Harbor and Terminal District, La.'s $1 billion of series 2008 revenue bonds issued on behalf of the Lake Charles Cogeneration LLC project.

At closing, bond proceeds will be held during the pre-construction phase of the transaction in a guaranteed investment contract provided by Rabobank, which is rated AAA/A-1+. The guaranteed investment contract is scheduled to expire March 15, 2009.

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