S&P Global Ratings assigned its 'AA' rating and stable outlook to Pembroke, Mass.' series 2017 general obligation (GO) municipal-purpose loan bonds and affirmed its 'AA' rating, with a stable outlook, on the town's existing GO debt. Officials plan to use series 2017 bond proceeds to fund various capital improvements. The town's full-faith-and-credit pledge, subject to limitations of Proposition 2 1/2, secures the bonds. Despite limitations imposed by the commonwealth's levy limit law, we did not make a rating distinction for the limited-tax GO pledge due to the town's flexibility under the levy limit. The rating reflects our opinion of the following factors for Pembroke, specifically its: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA);
