S&P Global Ratings assigned its 'AAA' rating to Hopkinton, Mass.' series 2019 general obligation (GO) municipal-purpose loan bonds and affirmed its 'AAA' rating on the town's existing GO debt. The outlook is stable. Hopkinton's full-faith-and-credit-GO pledge, subject to the limitations of Proposition 2-1/2, secures the bonds. We have not made a rating distinction between the town's general creditworthiness and its limited- and unlimited-tax GO debt. Despite limitations imposed by the commonwealth's levy-limit law, we have embedded the tax limitation imposed on the town's ability to raise revenue and resource flexibility into our analysis of its financial and economic conditions. Officials plan to use series 2019 bond proceeds toward various municipal purposes. Notably, the town has voted to exempt the debt
