BILLERICA -- The "spectacular" news keeps on flowing in for Billerica officials.

Less than a week after the state approved the next step for a new high school in town, officials have announced that Standard and Poor's Ratings Services has raised Billerica's bond rating from AA to AA+, one step away from the highest rating attainable.

This upgrade is the highest bond rating the town has ever received. Billerica's rating had not moved since 2008.

"We're reaching new heights here," said Town Manager John Curran on Monday. "And I'd like to think it's not an accident. We've been working very hard to put the town in a financially strong position.

"We've come a long way since 2010 when we were still in the economic recession," he added. "Much credit should be attributed to the Board of Selectmen and Town Meeting for having the vision necessary to establish debt stabilization funds to position and protect the Town's future capital endeavors."

For more on this story, read Tuesday's edition of The Sun and visit www.lowellsun.com

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