Wellesley's "prestige factor" and a AAA bond rating

Wellesley treasurer Marc Waldman tells the MetroWest Daily News that the pressure is always on to keep the town’s bond rating at a AAA level:

“Nobody wanted to be at the helm for a bond downgrade,” Waldman recalled. “The one thing we don’t want to be is the ones in charge if Wellesley’s bond rating ever drops below AAA. There’s a prestige factor, so that if it falls, you have to do a lot of explaining,” he said.