Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating to the District of Columbia's series 2011A income-tax-secured revenue bonds. At the same time, Standard&Poor's affirmed its 'AAA' rating on the district's existing parity debt. The outlook is stable. The ratings reflect our view of the district's: Strong historical coverage of maximum annual debt service (MADS) requirements, which is projected to continue as the district issues additional bonds over the next three years; and Strong legal provisions, including a two-pronged additional bonds test. Income tax and business franchise tax revenues secure the bonds. The district will use bond proceeds to pay for capital improvement projects. The district imposes the income tax on individuals domiciled within the District
