S&P Global Ratings assigned its ?SP-1+? short-term rating to Needham , Mass.' $11.13 million series 2025 general obligation (GO) bond anticipation notes (BANs). At the same time, we affirmed our 'AAA' long-term rating on the town's existing GO debt. The outlook on the long-term rating is stable. The rating on the town?s GO debt reflects the application of our ? Methodology for Rating US Governments ? criteria, published Sept 9, 2024, on RatingsDirect. The town?s full-faith-and-credit pledge, subject to Proposition 2-1/2 limitations, secures the notes. The short-term rating reflects our criteria for evaluating and rating BANs; in our view, Needham?s general creditworthiness and low market risk profile support the town?s capacity to pay principal and interest. The low market-risk profile
