Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating, with a stable outlook, to the District of Columbia's series 2012C and 2012D (refunding) income tax-secured revenue bonds and affirmed its 'AAA' ratings on the district's existing parity debt. The ratings reflect our view of the district's: Strong historical coverage of maximum annual debt service (MADS) requirements, which the district projects to continue as it issues additional bonds over the next three years; and Strong bond provisions, including a two-prong additional bonds test. Offsetting rating factors include continuing exposure to rollover risk given the district's intent to roll over its parity Securities Industry and Financial Markets Assn. (SIFMA) notes before the stated maturity dates, coupled with projected growth in
