Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating on Preston, Conn.'s general obligation bonds to AA-minus from A-plus.

At the same time, Standard & Poor's said it assigned its AA-minus long-term rating to the town's GO bonds, issue of 2013 and its SP-1-plus short-term rating to the town's GO bond anticipation notes. The outlook on all the ratings is stable.

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