S&P ups Louisiana, gives AAA/A-1+ to G.O. bonds

Standard & Poor's said it raised its general obligation and appropriation-backed debt ratings on the state of Louisiana to A+ from A and to A from A-, respectively. S&P also assigned an AAA/A-1+ rating to the state's $200 million series 2008-A G.O. variable-rate demand refunding bonds.

The rating on the new issue is based on a letter of credit from BNP Paribas (AA+/A-1+).

The outlook is stable.

The upgrade is due to continued strong revenue performance and budget discipline in the aftermath of hurricanes Katrina and Rita, S&P said.

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