Standard&Poor's Ratings Services assigned its 'SP-1+' rating to the District of Columbia's fiscal 2016 general obligation (GO) tax revenue anticipation notes (TRANs). The rating reflects our view of the district's: Good underlying general credit characteristics (GO rating: AA/Stable); Strong projected debt service coverage (DSC) of 7.4x 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. We understand officials intend to use note proceeds to fund seasonal cash needs during fiscal 2016; the notes will mature Sept. 30, 2016. The escrow agreement includes three set-aside dates that all occur in September 2016. The district agrees to
