Summary: Pembroke, Massachusetts; General Obligation

Standard&Poor's Ratings Services assigned its 'AA' rating to the town of Pembroke, Mass.' series 2016 general obligation (GO) refunding bonds and affirmed its 'AA' rating on the town's existing GO debt. The outlook is stable. The town's full faith and credit GO pledge, subject to the limitations of Proposition 2-1/2, secures the bonds. Despite the limitations imposed by the state levy limit law, we did not make a rating distinction for the limited-tax GO pledge given the town's flexibility under the levy limit. We understand the town will use bond proceeds to refund its series 2005 and 2006 bonds for present value savings. There will be no extension of maturity. The rating reflects our opinion of the following

...Standard & Poor's Ratings Services assigned its '##' rating to the town of Pembroke, Mass.' series 2016 general obligation (GO) refunding bonds and affirmed its '##' rating on the town's existing GO debt. The outlook is stable. The town's full faith and credit GO pledge, subject to the limitations of Proposition 2-1/2, secures the bonds. Despite the limitations imposed by the state levy limit law, we did not make a rating distinction for the limited-tax GO pledge given the town's flexibility under the levy limit. We understand the town will use bond proceeds to refund its series 2005 and 2006 bonds for present value savings. There will be no extension of maturity. The rating reflects our opinion of the following factors for Pembroke, specifically its:...

Summary