Standard & Poor's Ratings Services assigned its 'SP-1+' rating to Watertown, Mass.' BANs. The rating reflects the town's: Strong financial operations, Continued property tax base growth, and Economic diversification. Other credit factors include the town's: Location and participation in the greater Boston, Mass. economy; High wealth and income levels, including a trend of below-average unemployment averages; and Low net debt burden, which is offset by state school construction aid covering 60% of school debt and manageable future capital needs. The town's full faith and credit pledge secures the BANs. Proceeds of this issuance will be used to continue financing the ongoing remodeling and reconstruction of three of Watertown's schools. The town expects to roll these BANs before eventually taking them
