Standard&Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Newington Town, Conn.'s series 2013 general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'AA' long-term and underlying ratings, and stable outlook, on the town's debt outstanding. The 'AA' rating reflects what we view as Newington's: Strong income levels and extremely strong market value per capita; Strong financial position, coupled with good financial policies; and Low debt levels. The town's full faith and credit pledge secures the bonds. We understand that bond proceeds will be used to refund GO bonds outstanding to achieve present value savings. Newington (estimated population: 30,600) is between Hartford and New Britain, Conn., and is a primarily residential
