NEW YORK (Standard & Poor's) Nov. 2, 2001ùStandard & Poor's today assigned its 'SP-1'-plus rating to the town of Watertown, Mass.' $17.578 million BANs dated Nov. 15, 2001, due Nov. 14, 2002. The notes are scheduled to sell on Nov. 5, 2001. The rating reflects: -- Demonstrated market access through prior note and bond sales; -- Participation in the deep and diverse greater Boston economy; -- A trend of strong tax base growth; -- Strong financial performance with the added security of significant reserves; and -- A low net debt burden. The BANs are secured by the town's full faith and credit pledge. Watertown, population 32,986, is a fully developed community located among Boston's inner-ring cities. The town occupies just
