BOSTON (Standard&Poor's) Oct. 22, 2010--Standard&Poor's Ratings Services has raised its underlying rating (SPUR) on Groton, Mass.' general obligation (GO) debt to 'AA' from 'A+', based on the town's stable economic measures and a continuously consistent financial position in the face of budgetary pressures stemming from the economy. The outlook is stable. At the same time, Standard&Poor's assigned its 'AA' long-term rating to the town's $3.765 million series 2010 GO refunding bonds. Additional factors in support of the rating include Groton's: Primarily residential tax base, with access to employment opportunities in and around the deep and diverse Boston employment base; Above-average wealth and income level indicators; Good financial reserves; and Low overall net debt burden.
