The 'AAA/A-1+' rating on District of Columbia's bonds is based on bond insurance provided by FSA and a standby bond purchase agreement provided by DEPFA Bank PLC. The bonds will initially be in a weekly rate mode, but may be converted to a variety of other interest rate modes. While in the weekly rate mode bondholders have a seven-day tender option. The interest in the weekly rate mode will be paid semiannually on each June 1 and Dec. 1. The bonds are subject to mandatory sinking fund redemption and mandatory tenders. The credit facility from DEPFA Bank also covers the daily rate, but will terminate if the bonds are converted to any other mode. Complete ratings information is available to
