Moody's ups Louisiana G.O., appropriation bonds

Moody's Investors Service said it upgraded the state of Louisiana's general obligation bond rating to A1 from A2 and the state's appropriation debt to A2 from A3, and assigned an A1 long-term underlying rating to the series $200 million 2008-A general obligation variable rate demand refunding bonds.

The bonds are scheduled to sell on July 15.

Moody's said it based the upgrade on the state's financial strength and recovery since Hurricane Katrina.

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