Standard&Poor's Ratings Services assigned its 'SP-1+' short-term rating to Fitchburg, Mass.' series 2015 general obligation (GO) bond anticipation notes (BANs), payable June 24, 2016. At the same time, Standard&Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. The short-term note rating reflects our criteria for evaluating and rating BANs. In our view, Fitchburg maintains a very strong capacity to pay principal and interest when the BANs come due. The city also maintains, what we view as, a low market risk profile because it has strong legal authority to issue long-term debt to take out the BANs and it is a frequent issuer that regularly provides
