District of Columbia 2023A-B GO Bonds Assigned 'AA+' Rating; Other Ratings Affirmed

WASHINGTON D.C. (S&P Global Ratings) Feb. 27, 2023--S&P Global Ratings assigned its 'AA+' long-term rating to the District of Columbia's (DC, or the District) series 2023A general obligation (GO) bonds and 2023B GO refunding bonds, with approximate par amounts of $565.9 million and $240.2 million, respectively. At the same time, S&P Global Ratings affirmed its 'AA+' rating on DC's GO debt outstanding. The outlook is stable. "The District maintained a stable financial profile through the pandemic, aided by a deep and diverse economy alongside sophisticated, forward-looking financial planning policies and practices. Despite weakening macroeconomic conditions, we expect management to make budgetary adjustments that will result in generally balanced operating results and maintenance of very strong reserve levels," said S&P Global

...February 27, 2023 WASHINGTON D.C. (S&P Global Ratings) Feb. 27, 2023--S&P Global Ratings assigned its '##+' long-term rating to the District of Columbia's (DC, or the District) series 2023A general obligation (GO) bonds and 2023B GO refunding bonds, with approximate par amounts of $565.9 million and $240.2 million, respectively. At the same time, S&P Global Ratings affirmed its '##+' rating on DC's GO debt outstanding. The outlook is stable. "The District maintained a stable financial profile through the pandemic, aided by a deep and diverse economy alongside sophisticated, forward-looking financial planning policies and practices. Despite weakening macroeconomic conditions, we expect management to make budgetary adjustments that will result in generally balanced operating results and maintenance of very strong reserve levels," said S&P Global Ratings credit analyst Christian Richards. The District's GO bonds are secured by its full-faith-and-credit pledge, including a real property tax...

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