Standard&Poor's Ratings Services has affirmed its 'SP-1' short-term rating on the District of Columbia's series 2010 payment in lieu of taxes (PILOT) bond anticipation notes (BANs) for the Arthur Capper/Carrollsburg Public Improvement Project. The 'SP-1' rating reflects our revised criteria for evaluating and rating BANs. In our view, the district maintains a strong capacity to pay principal and interest when the notes come due in December 2012. In addition, the district has a low market risk profile as it maintains adequate legal authority to issue long-term debt to take out the notes and is a frequent issuer that regularly provides ongoing disclosure to market participants. The notes are secured in the first instance by PILOT payments, but are
