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Moody's gives D.C. first 'A' in 14 years.(News & Numbers)
District of Columbia Mayor Anthony Williams and CFO Natwar Gandhi announced in April that Moody's Investors Service upgraded the district's general obligation bond rating by two notches, from Baal to A2, and changed the rating outlook to stable from positive. It was the first time since at least 1990 that Moody's has given the district an A rating. Last year, Fitch Ratings and Standard & Poor's upgraded the district's general obligation bonds to A- from BBB+.
"This is a profound achievement for the district government," Williams said. "Now, all of the major rating agencies have recognized the financial discipline exercised by the district's elected leadership. 1 hope that Congress will recognize our efforts by supporting greater budget and fiscal autonomy for the district."
In a news release announcing the upgrade, Moody's cited sustained improvement in the district's economy and property tax base, as well as its multi-year record of improved financial management, controls, and results, as the underlying reasons for the enhanced bond rating. Despite the above-average level of ...
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Source: HighBeam Research, Moody's gives D.C. first 'A' in 14 years.(News & Numbers)