NY -- Standard&Poor's CreditWire 11/9/98 – Standard&Poor's today assigned its 'SP-1'-plus rating to the District of Columbia's $200 million GO tax revenue anticipation notes series 1999B due Sept. 30, 1999. The notes are scheduled to sell Nov. 16, 1998. The rating is based on an irrevocable direct-pay LOC issued severally by Morgan Guaranty Trust Co. of New York, Canadian Imperial Bank of Commerce, and Societe Generale. The LOC covers principal and interest on the notes from their issue date through maturity and expires on Oct. 5, 1999. Note proceeds will be used to finance the district's general governmental expenses in anticipation of the receipt of revenues for fiscal 1999, Standard&Poor's said. – CreditWire
