Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating to Needham, Mass.' series 2012 general obligation (GO) refunding bonds. Standard&Poor's has also affirmed its 'AAA' long-term rating on the town's existing GO debt. The outlook is stable. Standard&Poor's has also assigned its 'SP-1+' short-term rating to the town's series 2012 A and series B general obligation (GO) bond anticipation notes (BANs). The series 2012 A BANs are payable June 29, 2012, and the series 2012 B BANs are payable Oct. 15, 2012. The short-term note rating reflects our revised criteria for evaluating and rating BANs. In our view, the city maintains a very strong capacity to pay principal and interest when the notes come
