Standard&Poor' s Ratings Services affirmed its 'BBB' rating on District of Columbia's (D.C.) baseball park revenue taxable series 2006A-2 and series 2006B-1. The outlook is stable. The rating reflects our view of the following factors: A narrow tax revenue in the form of the ballpark fee levied on nonresidential business owners, that the district can increase to cover deficiencies in other dedicated revenues; The bonds' cross-collateralization whereby excess revenues from the various source can pay debt service; A more established, but still somewhat limited, collection history based on five years of ballpark fee collections; Adequate debt service coverage averaging about 1.50x and an adequate additional bonds test of 1.15x; and A $20 million stabilization fund, funded from excess
