Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to the town of Northbridge, Mass.' general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AA' long-term rating, with a stable outlook, on the town's GO debt outstanding. The town's full-faith-credit pledge secures the bonds. We base the long-term rating on our local GO criteria, reflecting our assessment of the following factors for Northbridge: Strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Strong management, with "good" financial policies; Adequate budgetary performance, with a slight operating surplus in the general fund but an operating deficit at the total governmental fund level; Strong budgetary flexibility, with an available fund balance in
