Fitch ups Louisiana G.O.s to A+

Fitch Ratings said it assigned a rating of A+ to $200 million series 2008-A state of Louisiana general obligation variable-rate demand refunding bonds, and upgraded $2.3 billion in outstanding G.O. debt to A+ from A. The outlook is stable.

The bonds, which will be due on July 1, 2026, will be issued as weekly variable-rate demand bonds supported by a letter of credit, and Fitch will assign applicable ratings separately.

The upgrade reflects the state's recent strong financial performance and management, growing reserve position and continued economic expansion.

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