Standard&Poor's Ratings Services assigned its 'AAA' rating, and stable outlook to Needham, Mass.' series 2007 GO municipal purpose bonds, and affirmed its 'AAA' rating, with a stable outlook, on the town's previously issued GO debt. The ratings reflect the town's: Affluent and growing property tax base, with high income and property wealth; Sound and consistent financial position; and Low to average debt burden with rapid amortization. Needham's full-faith pledge secures the bonds. Officials will use the bond proceeds for school construction, road repair, and water and sewer projects. The debt service on water and sewer projects are projected to be supported by those enterprises. Needham, with a population of 28,911, is 10 miles southwest of Boston, Mass., in
