Summary: District of Columbia; Miscellaneous Tax Mar 10

  • ID: 1930037
  • March 2010
  • Standard & Poors
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Standard & Poor's Ratings Services has assigned its 'AAA' rating to the District of Columbia's income tax revenue bonds, series 2010A (tax-exempt) and series 2010B (taxable) bonds. The bonds are secured by a statutory lien and pledge on the trust estate, consisting primarily of income tax revenues and business franchise taxes (income taxes) generated in the district and received by the collection agent, trustee, or district in any fiscal year. The 'AAA' rating reflects our assessment of: Strong coverage of debt service by pledged revenues and the expectation of maintenance of strong coverage; Good historical growth in pledged revenues with significant volatility associated with the individual revenue streams, but relative stability when all revenues are considered; A retention policy that...

Companies mentioned in this report are:
- District of Columbia

Action: Affirmed
Action: New Rating

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- District of Columbia

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