Fitch gives AAA/F1+ to Louisiana refunding bonds

Fitch Ratings said it assigned an AAA/F1+ rating to the $200 million series 2008-A state of Louisiana general obligation variable-rate demand refunding bonds.

The rating is based on a letter of credit provided by BNP Paribas, San Francisco branch. The bank is rated AA/F1+ by Fitch, and the bonds' underlying rating is A+.

Proceeds will be used to refund the state's outstanding series 2006A general obligation gulf tax credit bonds on July 18.

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