The District of Columbia's $250 million GO TRANs, series 2004, have been rated 'SP-1+'. The rating reflects: The district's strong underlying general credit quality; Sound financial operations of the district; and Strong debt service coverage at note maturity provided by the general fund balance and other borrowable money. The TRANs are general obligations of the district and the full faith and credit of the district is pledged for the payment of principle and interest on the notes when due on Sept. 30, 2004. Under the escrow agreement, the district has covenanted to make escrow deposits into the TRAN escrow account to pay principal and interest. Forty percent of principal will be deposited on Sept. 1, and Sept. 15, 2004, and
