Standard&Poor's Ratings Services has assigned its 'A-' long-term rating to the District of Columbia's (D.C.) series 2011 (City Market at O Street project) tax increment revenue bonds. Securing the bonds are incremental real property tax assessments and sales tax increment collections for the City Market at O Street project area. Under the reserve agreement, the bonds are also payable from available revenues that are derived from real property and sales tax increment revenues collected from the broader Downtown Tax Increment Financing (TIF) Area--net of the portion of real property tax revenues applied to the district's general obligation (GO) bonds as well as a portion of the sales tax on hotel rooms and food and beverages dedicated to the
