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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.

By Marcia Davis  |  March 3, 2009; 7:18 AM ET
Categories:  City Finances , Mayor Fenty  
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Comments

This is good news for the District. The other story that this posting links to is also good news.

Posted by: TheCounter | March 3, 2009 8:12 AM | Report abuse

D.C.'s 1st AAA Standard and Poor’s bond rating? Credit quality rating?
Pardon me, but.. so had A.I.G., Bank of America, and, General Motors.

The lack of oversight exercised by Mr. Gandhi since his appointment as the D.C. C.F.O. and in his leadership at D.C. tax and Revenue agency brought a $50 million dollar embezzlement, and, in his beginning under the D.C. Control Board's authority, Mr. Gandhi hired his D.C. general counsel who was not a licensed attorney, nor had any accreditation of any college or university, a complete sham.

So now the Mayor and Gandhi self congratulate themselves on Standard and Poor’s rating.

These malfeasors self congratulate themselves while de-funding programs proffered to benefit residents and sit upon Gandhi's $800 million dollar deficit.. Sham artists never admit to any limitations and why shouldn’t they now.

After all, Standard and Poor's ratings also, caused METRO's deficit spending shams to fall apart. Metro claimed to purchase rail cars, yet, immediately sold them to banks under IRS disallowed accounting practices. Standard and Poors and Wall Street?

These leaders have led America to financial ruin and high joblessness.

D.C. government under its leaders are sham artists publicizing acclaim from a discredited rating agency that is directly related to day's recession.

Posted by: eglobegus | March 3, 2009 12:57 PM | Report abuse

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