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TRAN |
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The 'F1+' rating on the tax revenue anticipation notes (TRANs, or the notes) reflects sound coverage on the repayment date, satisfactory legal protections for noteholders, improved beginning cash position due to a large projected general fund surplus for fiscal 2004, and management's demonstrated ability to respond quickly to funding shortfalls and unexpected expenditure needs. The 'F1+' rating on the District of Columbia's tax revenue anticipation notes (TRANs, or notes) reflects sound coverage on the repayment date, satisfactory legal protections for noteholders, and management's demonstrated ability to respond quickly to funding shortfalls and unexpected expenditure needs. |
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