S&P Global Ratings assigned its 'SP-1+' short-term rating and 'AA' long-term rating to the Town of Pembroke , Mass.'s 2025 general obligation (GO) bond anticipation notes (BANs), totaling $7.9 million, and GO municipal-purpose loan at $43.4 million, respectively. At the same time, S&P Global Ratings affirmed its 'SP-1+' and 'AA' ratings on the town's GO BANs and long-term debt outstanding. The outlook, where applicable, is stable. The town's full-faith-and-credit pledge, subject to Proposition 2 1/2 limitations, secures the BANs and GO debt outstanding. We rate the limited-tax GO debt on par with our view of Pembroke's general creditworthiness because the ad valorem tax is not derived from a measurably narrower property tax base and there are no limitations on the
