S&P Global Ratings assigned its 'AA+' long-term program rating and 'AA-' underlying rating to Fitchburg , Mass.' $27.65 million general obligation (GO) series 2025 state-qualified municipal purpose bonds. At the same time, we affirmed our 'AA-' underlying rating on the city's outstanding GO debt. The outlook is stable. The rating reflects the application of our " Methodology For Rating U.S. Governments ," criteria published Sept. 9, 2024, on RatingsDirect. The city?s full-faith-and-credit pledge, subject to Proposition 2-1/2 limitations, secures the series 2025 bonds and outstanding GO debt. We rate the limited-tax GO debt on par with our view of Fitchburg's general creditworthiness because the ad valorem tax limitation is not from a measurably narrower property tax base and there are
