S&P Global Ratings assigned its 'AAA' long-term rating and stable outlook to Needham, Mass.' series 2016 general obligation (GO) refunding bonds and affirmed its 'AAA' long-term rating, with a stable outlook, on the town's existing GO debt. At the same time, S&P Global Ratings assigned its 'SP-1+' short-term rating to Needham's series A GO taxable bond anticipation notes (BANs), payable on Sept. 15, 2016, and series B GO BANs, payable on Jan. 18, 2017. Needham's GO bonds are eligible to be rated above the sovereign because we believe the town can maintain better credit characteristics than the nation in a stress scenario. Under our criteria, titled "Ratings Above The Sovereign: Corporate And Government Ratings—Methodology And Assumptions ," published Nov. 19,
