...S&P Global Ratings raised its long-term rating on the District of Columbia's general obligation (GO) debt to '##+' from '##'. The outlook is stable. The upgrade reflects the District's sustained trend of economic growth supporting strong general fund revenue collections including seven consecutive years of operating surpluses, leading to considerably improved budgetary flexibility in recent fiscal years. In addition to strong revenue growth, management attributes its strong operating performance to its conservative budgeting and strong financial practices. In our view, this improved flexibility helps insulate the District from potential changes to federal employment levels, risks to the District's revenue profile from a federal government shutdown, or modifications to the funding methodology of certain programs like Medicaid. At the same time, S&P Global Ratings assigned its '##+' rating, and stable outlook, to the District of Columbia's series 2018A GO bonds and series 2018B GO refunding...
