Standard&Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to Hopkinton, Mass.' series 2005A and 2005B GO refunding bonds. Standard&Poor's also assigned its 'SP-1+' short-term rating to the town's BANs. The ratings reflect the town's: Stable local economy, complemented by access to the employment opportunities in the greater Boston MSA; Affluent and primarily residential property tax base; and Favorable debt position. The town's deteriorated financial position is an offsetting credit factor. The town's full faith and credit pledge secures the bonds and notes. Despite growing tax revenues caused by new growth in Hopkinton, the town's financial position has weakened. Expenditures have outpaced revenues in each of the past three years, yielding operating deficits and
