Wayland Patch 8/2/11: Moody's Still to Review Wayland's Credit Rating?. Late last week, Moody’s Investors Service announced it had placed Wayland and several other Massachusetts towns under review for possible downgrade of their Aaa bond ratings, in light of the federal debt ceiling wrangling. The agreement was reached in Washington; was approved by both U.S. House and Senate and, just hours ago, Pres. Barack Obama signed the bill, ending the debt ceiling battle and averting possible default on U.S. debt. So will this stave off the national credit downgrade and review of local ratings? There has been question about why specific cities and towns such as Wayland were picked for early review. Brookline Finance Department Director Stephen Cirillo explained that, as the nation's bond rating faced a possible downgrade, Moody's had to ask the question whether a state or town government could have a rating higher than that of its sovereign nation. Cirillo said that it is possible, but before Moody's would allow it, the agency must review the credit ratings, beginning with the Aaa-rated communities. In Massachusetts, this includes, among others, Acton, Brookline, Newton, Wayland and Weston, and the Lincoln-Sudbury school district.