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District of Columbia: District Gets Second Upgrade, and Officials See a Third on the Horizon.

The Bond Buyer

| June 24, 2003 | Vadum, Matthew | COPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Standard & Poor's upgraded the District of Columbia's general obligation bond rating to A-minus from BBB-plus yesterday, mirroring exactly the GO upgrade that Fitch Ratings handed the capital city late Friday and feeding speculation that a third upgrade is imminent.

The two upgrades coming one business day apart prompted Natwar M. Gandhi, the district's chief financial officer, to say confidently at a press conference yesterday that it is "a foregone conclusion" that the other major rating agency, Moody's Investors Service, will soon follow suit. Earlier this year, Moody's revised its outlook to positive from stable on the Baa1 rating that applies to the city's…

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Source: HighBeam Research, District of Columbia: District Gets Second Upgrade, and Officials See...

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