S&P Global Ratings assigned its ‘SP-1+’ short-term rating to the town of Grafton , Massachusetts’ $7 million series 2026 bond anticipation note (BAN), maturing Dec. 3, 2027. At the same time, we affirmed our ‘AA+’ long-term rating on the town’s existing general obligation (GO) debt. The outlook on the long-term rating is stable. Grafton's full-faith-and-credit pledge, subject to Proposition 2-1/2 limitations, secures the notes and its existing GO debt. We do not make a rating distinction between Grafton’s limited-tax debt and its general creditworthiness because our analysis of its financial and economic conditions already includes the statutory limitation imposed on its revenue-raising ability. The short-term rating on the notes reflects our evaluation of the town under our criteria for evaluating
