Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to the town of Kennebunk, Maine's 2013 general obligation (GO) bonds. The outlook is stable. The rating reflects our view of the town's: Diverse economy with access to the greater Portland metropolitan statistical area (MSA); Stable property tax base with extremely strong wealth and very strong incomes; Very strong available general fund balance bolstered by a sizable committed balance that could be used for operations; Limited pension and other postemployment benefit (OPEB) liabilities; and Low debt burden as a share of market value coupled with above-average principal amortization. The town's full faith and credit GO pledge secures the bonds. We understand proceeds will finance various capital improvements and acquisitions as
