Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating and stable outlook to the Town of Watertown, Mass' series 2014 general obligation (GO) municipal purpose loan. At the same time, Standard&Poor's has affirmed its 'AAA' rating on the town's GO debt outstanding. The outlook is stable. The town's full faith and credit pledge secures the bonds. 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 available reserves at 19% of general fund expenditures in fiscal 2013; Strong
