The tax-exempt bonds sold in cooperation with the District of Columbia will help fund the construction of their new Washington, DC headquarters, converting and old warehouse into a seven-story office building. NPR announced that $10 million in reserve funds and $58 million from the debt sale will go toward construction expenses. Moody’s assigned NPR’s debt a rating of Aa3, while Standard & Poor’s gave it a AA- rating. Both debt ratings are among the four highest in their investment grades.