S&P Global Ratings assigned its 'AA' program rating and negative outlook and 'A+' underlying rating for credit program and stable outlook to Fitchburg, Mass.' series 2016 general obligation (GO) bonds. We also affirmed our 'A+' underlying rating, with a stable outlook, on the city's existing GO debt. In addition, S&P Global assigned its 'SP-1+' short-term rating to the city's series 2016 GO bond anticipation notes (BANs), maturing June 23, 2017, and affirmed its 'SP-1+' short-term rating on the city's existing BANs. The short-term rating reflects our view that Fitchburg maintains a very strong ability to pay principal and interest when notes come due. In our opinion, the city has a low market risk profile because it maintains strong legal authority
