BOSTON (Standard&Poor's) June 18, 2010--Standard&Poor's Ratings Services has raised its underlying rating (SPUR) on Fitchburg, Mass.'s general obligation (GO) debt to 'A-' from 'BBB+', reflecting the city's improved financial position. The outlook is stable. At the same time, Standard&Poor's assigned its 'SP-1+' short-term rating to Fitchburg's GO bond anticipation notes (BANs) based on the city's underlying credit quality and demonstrated market access. "The city's adequate income levels and strong per capita valuation, combined with its low overall net debt burden, further support the 'A-' SPUR in our opinion," said Standard&Poor's credit analyst Matthew Stephan. However, Fitchburg's elevated unemployment level somewhat offsets these strengths in Standard&Poor's assessment, as does the city's
