Standard&Poor's Ratings Services assigned its 'AA' long-term rating to the District of Columbia's series 2015A and 2015B general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AA' rating on the district's outstanding GO bonds. The outlook is stable. The GO rating is based on the district's full faith and credit pledge. We understand 2015A bond proceeds will finance capital expenditures, while the 2015B proceeds will refund a portion of the district's 2005B GO bonds for significant debt service savings. Management estimates the district will realize net present value savings of 15%-20%. The GO rating reflects our assessment of the following factors for the district, specifically its: Very strong economy, with access to a broad
