Standard&Poor's Ratings Services assigned its 'SP-1+' short-term rating to District of Columbia's series 2008 GO tax and revenue anticipation notes (TRANs). The rating reflects the District of Columbia's: Underlying long-term general creditworthiness ('A+' GO debt rating); Sound financial operations; and Strong debt service coverage at note maturity, provided by the general fund cash balance and other borrowable money. The notes are a GO of the district; and the district's full faith and credit pledge for the payment of principal and interest on the notes when due on Sept. 30, 2008, secures the notes. Under the escrow agreement, the district has covenanted to make escrow deposits into the note escrow account to pay principal and interest between Aug. 1,
