Standard&Poor's Rating Services raised its ratings on District of Columbia's series 2001D to 'AAA/A-1' from 'A/A-1', and its series 2002D and 2008C to 'AAA/A-1+' from 'A/A-1'. The ratings for all of the above mentioned series reflect the application of joint criteria (assuming low-correlation) and the substitution of the existing letter of credits (LOCs) provided by Dexia Credit Local (A/A-1) to LOCs provided by individual LOC providers. The application of joint criteria utilizes the 'A+' rating of the obligor, which is described below, and the substitute LOCs. The series 2001D bonds will now be enhanced by an LOC provided by Bank of America N.A. (A+/A-1). The series 2002D bonds will now be enhanced by an LOC provided by Wachovia
