Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating to the District of Columbia's series 2012A 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 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. Offsetting rating factors include continuing exposure to roll over 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 its income-tax-secured debt burden due to
