S&P Global Ratings assigned its'AA'long-term rating to Pembroke , Massachusetts'approximately $39.2 million series 2026 general obligation (GO) municipal purpose loan. At the same time, S&P Global Ratings affirmed its'AA'rating on the town's long-term debt outstanding. The outlook is stable. The town's full faith and credit pledge, subject to Proposition 2 1/2 limitations, secures the series 2026 bonds and rated debt outstanding. $24.9 million of the bonds are exempt from Proposition 2 1/2. 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 fungibility of resources, supporting our view
