Standard&Poor's Ratings Services assigned its SP-1+ rating to Franklin, Mass.' bond anticipation notes (BANs). Standard&Poor's also affirmed the 'AA' rating on the town's general obligation (GO) bonds. The ratings reflect the town's: Demonstrated market access for bonds and notes; Advantageous location along the high-tech Interstate 495 Corridor, with access to Boston by commuter rail and to other regional employment centers; Above-average wealth and income levels; Reserve levels which, although they have declined, remain adequate and are projected to stabilize in fiscal 2009; and Average debt profile, with limited future capital needs. The town's planned use of reserves for its operations offsets these credit strengths. Although reserve levels currently remain satisfactory, they have narrowed during the past
