Standard and Poor's Ratings Services assigned its 'AA' rating to East Haddam, Conn.'s series 2008 general obligation (GO) bonds. The outlook is stable. In addition, Standard and Poor's assigned its 'SP-1+' rating to the town's GO bond anticipation notes. The rating reflects the following factors: East Haddam is a residential community, with a limited local economy tied to the service and tourism industry. The town's wealth and income levels are strong. East Haddam has a stable financial position and strong reserve levels. The town's debt burden is low, and its future capital needs are limited. Proceeds from the bonds will be used primarily to finance the construction a new middle school. Additionally, a portion of the bond proceeds will be
