Today, Moody's Ratings announced that it has placed the District of Columbia's credit ratings under review for a possible downgrade; another outcome of the federal workforce reductions and shifts in the real property markets. The District's most recent revenue estimate reflected the impact of these two fundamental changes in the local economy. No rating decision has been made at this time by Moody's. We will continue to exercise fiscal prudence and sound financial management practices in collaboration with the elected leadership to ensure the District's financial health and sustainability.