Summary: District of Columbia, DC; Appropriation, Appropriations; Tax Secured, General Obligation Nov 05

Standard & Poors, November 2005

Abstract
Standard & Poor's Ratings Services raised its rating on the District of Columbia's GO debt to 'A+' from 'A' based on a continuation of conservative financial management and operations, coupled with significant tax base growth and investment. At the same time, Standard & Poor's assigned its 'A+' rating to D.C.'s new series 2005A GO bonds and 2005B GO refunding bonds, reflecting the following: Management has a strong commitment to maintaining balanced operations and home rule, demonstrated by nine consecutive years of operating surpluses and the buildup of significant general fund reserves. There are statutory financial policies and practices in place that, if not met, would trigger the reoccurrence of the control board and minimize the risk of future financial difficulties....

Companies mentioned in this report are:
- District of Columbia

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- District of Columbia

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