Standard&Poor's Ratings Services raised its rating on District of Columbia's (D.C.) series 2002 (Mandarin Oriental Hotel) tax increment revenue bonds to 'AA-' from 'A'; its rating on D.C.'s series 2011 (City Market at O Street project) tax increment revenue bonds to 'A+' from 'A-'; and its series 2012 (Gallery Place project) tax increment revenue refunding bonds to 'A+' from 'A–'. The outlook is stable for all ratings The rating actions are due to ongoing development within the Downtown Tax Increment Financing (TIF) Area that ultimately secures the 2002 bonds on a senior-lien basis and the 2011 and 2012 bonds on a junior-lien basis, resulting in very strong coverage levels. At the same time, Standard&Poor's assigned its
