S&P Global Ratings assigned its 'SP-1+' short-term rating to the Town of Hopkinton, Mass.' approximately $17.0 million general obligation (GO) bond anticipation notes (BANs) S&P Global Ratings also affirmed its 'AAA' long-term rating to the town's existing GO bonds. The outlook on the town's long-term rating is stable. Hopkinton's full-faith-and-credit pledge secures the BANs and existing GO debt. The bonds are payable from unlimited-ad valorem tax revenue, subject to Proposition 2 1/2 limitations. Town voters have elected to exclude from the limitation the debt service on several of the projects being funded by the bonds. Despite limitations imposed by the commonwealth's levy-limit law, we do not make a rating distinction between the limited- and unlimited-tax GO pledges because the ad
