BOSTON (Standard&Poor's) Dec. 20, 2013--Standard&Poor's Ratings Services said that it raised its rating on Northbridge, Mass.' general obligation (GO) bonds to 'AA' from 'A+', based on our new local GO criteria. The outlook is stable. A pledge of the town's full faith and credit secures the bonds. "The rating and stable outlook reflect our assessment of Northbridge's strong budgetary flexibility and very strong liquidity," said Standard&Poor's credit analyst Victor Medeiros, "as well as its low debt and contingent liabilities." "We believe budgetary performance will remain adequate," he added, "and budgetary flexibility should remain strong." The town benefits from a stable revenue profile and management conditions are adequate. We believe pension and other postemployment benefit
