Create Script to rename files after parent directory

I have a bunch of pdf files that are named "minutes.pdf", each alone within a directory that tells me what they are.

So the file path would be D:\WaterBoard\August2012\minutes.pdf

Every pdf is named "minutes.pdf" if this helps.

How would I create a batch file that would give the pdf a file name of the folder within which it is located? I've got like 400 of these so a script would be super useful. Thanks for any guidance!

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Of course someone here may post a script or batch for you also.