D.C. Gets Its First AAA Bond Rating
Standard and Poor's gave CFO Natwar M. Gandhi, Mayor Adrian M. Fenty and other city officials a boost yesterday with its issuing of a AAA bond rating for D.C. for the first time, as Nikita Stewart reported in this morning's Washington Post.
Last night, a very pleased Fenty issued the following statement: "I am pleased that the District, for the first time, has received the highest credit quality rating of "AAA" from Standard and Poor's, one of the three major bond rating agencies in the U.S. This rating reflects Wall Street's strong level of confidence in the city's financial stability, and is a result of years of mindful spending and overall good fiscal responsibility. The resulting cost savings will help the city as we cope with the effects of the nation's economic downturn and allow my administration to continue efforts to improve infrastructure and service delivery.
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