Summary: Watertown, Massachusetts; General Obligation; Note

S&P Global Ratings assigned its 'AAA' long term-rating to the Town of Watertown, Mass.' series 2020 general obligation (GO) municipal purpose loan of 2020 bonds totaling $17.8 million and its 'SP-1+' short-term rating to the town's series 2020 GO bond anticipation notes (BANs), due June 24, 2021, totaling $6.2 million. At the same time, S&P Global Ratings affirmed its 'SP-1+' rating on Watertown's existing BANs and 'AAA' long-term rating on the town's existing GO debt. The outlook, where applicable, is stable. The short-term note rating reflects our criteria for evaluating and rating BANs. In our view, Watertown maintains a very strong capacity to pay principal and interest when the notes come due. In our view, and in accordance with our

...S&P Global Ratings assigned its '###' long term-rating to the Town of Watertown, Mass.' series 2020 general obligation (GO) municipal purpose loan of 2020 bonds totaling $17.8 million and its 'SP-1+' short-term rating to the town's series 2020 GO bond anticipation notes (BANs), due June 24, 2021, totaling $6.2 million. At the same time, S&P Global Ratings affirmed its 'SP-1+' rating on Watertown's existing BANs and '###' long-term rating on the town's existing GO debt. The outlook, where applicable, is stable. The short-term note rating reflects our criteria for evaluating and rating BANs. In our view, Watertown maintains a very strong capacity to pay principal and interest when the notes come due. In our view, and in accordance with our criteria "Bond Anticipation Note Rating Methodology" (published Aug. 31, 2011), the town maintains a low market risk profile, because it has strong legal authority to issue long-term debt to take out the notes and is a frequent issuer that regularly provides...

Summary