NEW YORK (Standard&Poor's) March 21, 2013--Standard&Poor's Ratings Services raised its rating to 'AA-' from 'A+' on the District of Columbia's general obligation (GO) bonds. At the same time, Standard&Poor's raised its rating to 'A+' from 'A' on the district's existing certificates of participation (COPs). The outlook is stable. "The upgrades reflect our view of the district's improved financial position that has been strengthened by recent strong revenue performance," said Standard&Poor's credit analyst Le T. Quach. Also reflected in the upgrade is the rebuilding of reserves in accordance with the district's recently adopted new reserve policies. In addition, district revenue forecasts further indicate growth through fiscal 2017, although we expect ongoing federal consolidation
