Standard&Poor's Ratings Services raised its rating on Northbridge, Mass.' general obligation (GO) bonds to 'AA' from 'A+', based on our new local GO criteria. The outlook is stable. A pledge of the town's full faith and credit secures the bonds. The rating reflects our assessment of the following factors: Northbridge serves an estimated population of 14,727 in Worcester County 40 miles west of Boston and 15 miles southeast of Worcester. We consider Northbridge's economy strong, as it participates in the Worcester metropolitan area and the county unemployment rate for calendar year 2012 was 7.5%. The town's projected per-capita effective buying income is at 112% of the U.S. level and the 2013 per-capita market value is $88,722. In our
