Credit Ratings of DC Municipal Bonds
As of March 28, 2013, the credit ratings for Income Tax Secured Revenue Bonds and General Obligation Bonds (uninsured) of the District are as follows:
|Standard & Poor's Ratings Services||Moody’s Investors Service, Inc.||FitchRatings|
|Income Tax Secured Revenue Bonds||
|General Obligation Bonds||AA-||Aa2||AA-|
For the meaning of ratings assigned to specific District bonds, contact the rating agency that assigned it and review the “ratings” section in the applicable official statement.
The chart below shows the historical budgetary surplus and General Obligation Bond ratings for the District. The District has moved from a junk bond rating in the early 1990’s to the “AA” category by two of the rating agencies and the high “A” category of third rating agency. Beginning in FY 2009, District issued Income Tax Secured Revenue Bonds which are payable from and secured by District income tax revenues; the District does not pledge its general taxing power to repay the bonds. The District issues Income Tax Secured Revenue Bonds under the Income Tax Secured Revenue Bond Program to fund capital improvement projects, previously financed by general obligation bonds.