Report: Narragansett Economy 'Very Strong'

Narragansett has a "very strong economy," leading Standard & Poor's to upgrade the town's bond rating to "AA" from "AA-".

"The rating reflects our view of the town's very strong economy and strong budgetary flexibility," said Standard & Poor's credit analyst Victor Medeiros, according to ResearchandMarkets.com. 

Financial challenges facing the town include its increasing pension and post-employment benefit liabilities, according to Standard and Poor's.

"The stable outlook reflects our view of the town's consistent financial performance," Medeiros said.