Standard&Poor's Ratings Services assigned its 'SP-1+' rating to the District of Columbia's fiscal 2015 general obligation (GO) tax revenue anticipation notes (TRANs). The rating reflects our view of the district's: Good underlying general credit characteristics (AA/Stable general obligation debt rating); Strong projected debt service coverage (DSC) of 4.4x at maturity; Strong record of accurately forecasting available revenue for TRANs repayment; and Strong historical and projected liquidity. The notes are a GO of the district; its full-faith-and-credit pledge secures the notes. Officials intend to use note proceeds to fund seasonal cash needs during fiscal 2015; the notes will mature on Sept. 30, 2015. The escrow agreement includes three set-aside dates that all occur in September 2015. The district agrees
