Standard&Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) on Watertown, Mass.' outstanding general obligation (GO) bonds to 'AA+' from 'AA'. The outlook is stable. In addition, Standard&Poor's assigned its 'AA+' rating and stable outlook to the town's 2008 GO bonds, and 'SP-1+' rating to the town's GO bond anticipation notes, which are being issued concurrently. The upgrade reflects Watertown's strong economic fundamentals, good fiscal policies, and management's ability to maintain balanced operating results and strong financial reserves through various economic cycles. The rating also reflects: A mature residential community that participates in the deep, diverse Boston metropolitan statistical area (MSA); Low unemployment and strong income levels, with median household effective buying income that
