Standard&Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Needham, Mass.' series 2008 general obligation (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, primarily for the town's high school. Needham, with a population of 28,722, is 10 miles southwest of Boston, Mass., in one of the nation's wealthiest regions. Because of the town's proximity to Boston, home prices
