NEW YORK (Standard&Poor's CreditWire) April 22, 1999-- Standard&Poor's today raised its ratings on the District of Columbia's outstanding GO debt and revised the outlook to stable from positive (see list below). The rating upgrades are based on the district's improved financial and administrative factors, resulting largely from federal legislation affecting the district and the expectation that strengthened management controls and reforms, economic development initiatives, and other factors will lead to solid credit fundamentals over the long term. Other rating characteristics include debt pressures and an economy that remains sluggish. Standard&Poor's will conduct a telephone conference call on its upgrade of the District of Columbia's bond rating today at 2:00 P.M eastern time. For information
