S&P Global Ratings assigned its 'AA' long-term rating to the District of Columbia's (D.C.) series 2016A general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA' rating on the district's GO bonds outstanding. The outlook is stable. We base the GO rating on the district's full faith and credit pledge. We understand 2016A bond proceeds will finance various capital expenditures. The GO rating reflects our assessment of the following factors for D.C., specifically its: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Strong management, with strong financial policies although historically there has been a dependence on the federal government for approval of the district's budgets as well as its appropriation
