S&P Global Ratings assigned its 'AA+ ' long-term rating to Newington, Conn.'s series 2020 general obligation (GO) bonds. At the same time, we affirmed our 'AA+' rating on the town's GO debt outstanding. The outlook is stable. The town's full-faith-and-credit pledge secures the bonds. Proceeds of the long-term bonds will finance construction of a town hall project. The total bonding authorization for the project is $28.9 million. Our rating on Newington reflects our view of the town's steady financial performance and low debt burden supported by strong management practices. In line with our view of the ongoing economic contraction, we believe the closure of nonessential businesses will temper economically sensitive revenue performance and exacerbate unemployment in fiscal 2020. However, given
