NY -- Standard&Poor's CreditWire 8/19/97 -- Standard&Poor's today has assigned its double-'A'-minus rating to Watertown, Mass.'s $8.06 million unlimited tax G.O. school bonds due Aug. 15, 1998-2017, scheduled to sell Aug. 20, 1997. Watertown's rating reflects: -- A sound economic base, further strengthened by ease of access to the strong Boston economy; -- A trend of improving financial performance; and -- A moderate debt level. Watertown is a town of 31,000 bordering Boston, Cambridge, and Waltham. Though closely tied in with the metropolitan statistical area's economy, it nevertheless can demonstrate considerable retail and manufacturing activity of its own. The top three employers are the Arsenal Mall, a retail center employing 1,174, Boston Scientific, a manufacturer of
