NEW YORK (Standard&Poor's) April 16, 2002—Standard&Poor's said it raised its rating to double-'A' from double-'A'-minus on Franklin, Mass.' general obligation bonds, reflecting a tax base that has grown 58% over the past five years and healthy reserves bolstered by a $6 million court settlement. Standard&Poor's also assigned its double-'A' rating to Franklin's $3.597 million general obligation bonds selling April 17. The outlook is stable. Franklin's financial performance "is strong due to good management, a strong economy, and consistent tax base growth," said credit analyst Geoffrey Buswick. "The rating is also supported by a manageable debt position and an advantageous location along the high-technology Interstate 495 corridor with accessibility by commuter rail to Boston," he
