District of Columbia Chief Financial Officer Natwar Gandhi and Mayor Vincent Gray announced a $417 million 2012 surplus this week, bringing the city's fund balance to its highest level in five years.

The surplus should help the mayor and CFO when they travel to New York sometime next month to meet with representatives of the rating agencies, though no exact date has been set.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.