NEW YORK (Standard&Poor's) Sept. 29, 2014--Standard&Poor's Ratings Services said it raised its long-term rating and underlying rating (SPUR) on the District of Columbia's general obligation (GO) bonds to 'AA' from 'AA-'. At the same time, Standard&Poor's raised its long-term rating and SPUR to 'AA-' from 'A+' on the district's certificates of participation and assigned its 'AA' long-term rating to its series 2014C and D GO bonds. The outlook is stable. "The upgrade is based on a record of general fund surpluses that have strengthened flexibility," said Standard&Poor's credit analyst Hilary Sutton. We also believe that, following the planned sale of the 2014D GO bonds, the district will have reduced its contingent liability
