NY -- Standard&Poor's CreditWire 8/7/97 -- Standard&Poor's today has placed its single-`B' G.O. rating on District of Columbia's general obligation debt on CreditWatch with positive implications. The district's single-`B'-minus rated certificates of participation are also placed on CreditWatch. The CreditWatch placement follows President Clinton's signing into law reforms directed at revitalizing the city. Standard&Poor's will be evaluating developments related to the plan, including the progress of its implementation, its incorporation into the fiscal 1998 budget, and the plan's long-term imprint on the district's governmental structure and operations, to determine whether the district's rating should in fact be raised and if so to what level. The CreditWatch action will consider the impact of the new
