An upgrade by Standard & Poor's Corp. on Friday couldn't have come at a better time for the Massachusetts Water Resources Authority, which was putting the final touches on a $275 million bond sale scheduled for this morning.

The upgrade, to A from A-minus, "is definitely a boost for the sale," said Daniel L. Keating, senior managing director at Bear, Stearns & Co., the lead manager for the offering. "There is a lot of demand for this paper out there and I think this upgrade reflects an authority whose credit is on the rise."

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