BOSTON (Standard&Poor's) July 22, 2008--Standard&Poor's Ratings Services said today it raised its standard 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 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 reserves through various economic cycles," said Standard&Poor's credit analyst Victor Medeiros. The ratings reflect a mature residential community that participates in the Boston metropolitan area, the town's
