Standard&Poor's Ratings Services assigned its 'A+' long-term rating, and stable outlook, to the town of Southbridge, Mass.' series 2012 general obligation (GO) school bonds. At the same time, Standard&Poor's affirmed its 'A+' rating, with a stable outlook, on the town's GO bonds outstanding. The ratings reflect what we view as Southbridge's: Manufacturing-based local economy with additional employment opportunities in the city of Worcester (A+/Stable); Strong financial position even after three consecutive years of drawdowns in its available fund balance; Low debt burden, coupled with no additional debt plan. These strengths are somewhat offset by what we consider the town's: Adequate, but below-average income and wealth indicators, coupled with high unemployment rate; and Five consecutive years of
