Standard&Poor's Ratings Services assigned its 'AA' rating to Newington, Conn.'s general obligation (GO) bonds, series 2010, and affirmed its 'AA' rating and 'AA' underlying rating (SPUR) on the town's debt outstanding. The 'AA' rating reflects our assessment of the town'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. Bond proceeds will be used to refund GO bonds outstanding. Newington (estimated population: 29,500) is located between Hartford and New Britain, and is a primarily residential community with a diverse economic base. A former dependence on defense-related manufacturing has been reduced and replaced by light industry
