Standard&Poor's Ratings Services has assigned its 'AA+' long-term rating, and stable outlook, to the Town of Franklin, Mass.' series 2015 general obligation (GO) refunding bonds. At the same time, Standard&Poor's has affirmed its 'AA+' long-term rating on the town's existing GO debt. The outlook is stable. The long-term rating reflects what we view as the town's: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Strong management, with "good" financial policies; Strong budgetary flexibility, with an available fund balance in fiscal 2013 of 8.9% of operating expenditures; Adequate budgetary performance, with operating results that were balanced in the general fund but slightly negative at the total governmental fund level; Very strong
