The 'A-' rating on the District of Columbia's bonds, issued for Georgetown University, reflects Georgetown University's two successive years of large losses at Georgetown University Medical Center and no indication that these losses will be curtailed or eliminated shortly. Positive factors precluding a lower rating include the university's strong student demand, stable enrollment, and adequate endowment and similar funds totaling $628 million at fiscal year-end June 30, 1998. Bonds are secured by a GO pledge and refund several outstanding issues. The university recorded losses of $69 million and $54 million in each of the past two fiscal years, respectively. The bulk of the losses occurred at Georgetown University Medical Center, which includes the School of Medicine, the 284-staffed bed Georgetown
