The rating on the District of Columbia's (D.C.) outstanding parity GO debt has been raised to 'A' from 'A-'. The district's $170 million GO bonds series 2004A bonds have been rated 'A'. The outlook is stable. The upgrade reflects: A track record of seven consecutive years of operating surpluses; and Strict financial policies and practices that significantly reduce the risk of future financial difficulties, including statutory reserve levels at 7% of revenues and ongoing budget oversight and approval by congress, with clearly defined triggers that would reinstate the control period. Other rating factors include: A diversifying regional employment center anchored by the federal government, services, and tourism; Operating surpluses generated in fiscal 2003 and anticipated for fiscal 2004 that increase
