Standard&Poor's Ratings Services has raised its rating on the Town of Watertown, Mass' general obligation (GO) bonds to 'AAA' from 'AA+' based on our recently released local GO criteria. The outlook is stable. At the same time, Standard&Poor's has assigned its 'AAA' long-term rating and stable outlook to the town's series 2013 GO municipal purpose loan. The town's full faith and credit pledge secures the bonds and notes. We understand that officials will use proceeds to fund various capital improvements. The rating reflects our assessment of the following factors for Watertown, specifically what we consider its: Very strong economy, which benefits from participation in the broad and diverse economy of Boston; Very strong budgetary flexibility, with
