Summary: District of Columbia; General Obligation; Miscellaneous Tax

S&P Global Ratings assigned its 'AAA' rating to the District of Columbia's series 2020C and 2020D income tax-secured revenue and revenue refunding bonds. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the District's income tax revenue bonds outstanding. The outlook is stable. The ratings reflect the application of our criteria "Priority-Lien Tax Revenue Debt," published Oct. 22, 2018, which factors in both the strength and stability of pledged revenue and the general creditworthiness of the municipality. The $315 million 2020C bonds represent new money that will be used to fund a portion of the District's current capital improvement plan. The $235 million 2020D bonds will be used to refund a portion of previously issued debt. The

...S&P Global Ratings assigned its '###' rating to the District of Columbia's series 2020C and 2020D income tax-secured revenue and revenue refunding bonds. At the same time, S&P Global Ratings affirmed its '###' rating on the District's income tax revenue bonds outstanding. The outlook is stable. The ratings reflect the application of our criteria "Priority-Lien Tax Revenue Debt," published Oct. 22, 2018, which factors in both the strength and stability of pledged revenue and the general creditworthiness of the municipality. The $315 million 2020C bonds represent new money that will be used to fund a portion of the District's current capital improvement plan. The $235 million 2020D bonds will be used to refund a portion of previously issued debt. The current bonds are being issued under an amended and restated master indenture as well as a third supplemental indenture. The amended and restated master indenture includes springing amendments that became effective earlier this year when more...

Summary