Friday, November 9, 2012

DC revenue, bond rating, and more

According to Reuters November 6, Fitch rates District of Columbia's income tax revs 'AA+':
Fitch Ratings assigns an 'AA+' rating to the following District of Columbia (the district) income tax-secured revenue bonds:
   --$745 million revenue bonds, series 2012C and
   --$30 million revenue refunding bonds, series 2012D.

The series bonds are expected to sell via negotiation Nov. 7, 2012. Series 2012C finances the district's on-going capital plan while series 2012D refunds outstanding revenue bond anticipation notes.

This is good news for the city.

For more information about income tax and other revenues, as well as general economic trends, read October 2012 Review of District of Columbia Economic and Revenue Trends (PDF).

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