Standard&Poor's Ratings Services assigned its 'AA' standard long-term rating, and stable outlook, to Franklin, Mass.' GO bonds and its 'SP-1+' short-term rating to the town's BANs. The ratings reflect the town's: Above-average wealth and income levels; Advantageous location along the High-Tech Interstate 495 Corridor with access to Boston, Mass. by commuter rail; Adequate financial position, though reserves are narrowing; and Moderate and manageable debt profile. The town's planned use of reserves for operations offsets these credit strengths. Although reserve levels remain adequate, the narrowing of reserves in fiscals 2005 and 2006 has weakened the town's historically strong financial position. The town's full faith and credit pledge secures the bonds and notes. Officials will use the majority of bond
