Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating, with a stable outlook, to the District of Columbia's series 2013A (adjusted SIFMA rate) income tax-secured revenue refunding 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 we expect to be maintained as the district continues to issue additional parity debt; 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
