NEW YORK (Standard&Poor's) Sept. 23, 2011--Standard&Poor's Ratings Services assigned its 'SP-1+' rating to District of Columbia's $820 million fiscal 2012 general obligation (GO) tax revenue anticipation notes (TRANs). The rating reflects Standard&Poor's view of the district's: Good underlying general credit characteristics ('A+' GO debt rating), Strong projected debt service coverage of 1.6x at maturity, and Strong historical and projected liquidity. Standard&Poor's believes the district's recent general fund reserve reductions somewhat offset these factors. The notes are a GO of the district; the district's full-faith-and-credit pledge secures the notes. Officials intend to use note proceeds to fund seasonal cash needs during fiscal 2012; the notes will mature on Sept. 28, 2012. RELATED CRITERIA
