Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to Needham, Mass.' series 2010 general obligation (GO) municipal-purpose loan bonds, dated June 15, 2010, and affirmed its 'AAA' long-term rating, with a stable outlook, on the town's existing GO parity debt. Standard&Poor's also assigned its 'SP-1+' short-term rating to the town's series A and series B GO bond anticipation notes (BANs) that the town is issuing concurrently with the bonds and affirmed its 'SP-1+' short-term rating on the town's BANs, maturing June 15, 2010. The 'SP-1+' reflects Needham's underlying credit quality and demonstrated access to credit markets, evidenced by previous note sales. In our opinion, the long-term rating reflects the town's: Affluent and growing
