Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, with a stable outlook, to Needham, Mass.' series 2014 general obligation (GO) municipal purpose loan bonds. At the same time, Standard&Poor's assigned its 'SP-1+' short-term rating to Needham's series 2014 GO bond anticipation notes (BANs) and taxable GO BANs, payable on Dec. 1, 2014, and June 16, 2014, respectively. Finally, Standard&Poor's affirmed its 'AAA' long-term rating, with a stable outlook, on the town's GO debt. The 'SP-1+' rating reflects our view of the town's strong ability to pay principal and interest when the notes come due. Needham's market risk profile is low, in our view, as it a) maintains strong legal authority to issue long-term debt
