In Standard&Poor's Ratings Services' opinion, the 'A+' long-term rating assigned to the Town of Southbridge, Mass.' 2010 general obligation (GO) road construction bonds reflects the town's: Manufacturing-based local economy with additional employment opportunities in the city of Worcester (A-/Stable); Adequate income and above-average unemployment levels; Currently strong financial reserve position; and Low debt burden. The town's full faith and credit pledge secures the bonds. We understand that the bonds will be issued as federally taxable recovery zone economic development bonds, which entitles the town to a 45% interest subsidy from the U.S. treasury. Officials will use bond proceeds to finance the construction of a new road to serve the town landfills and adjacent vacant parcels as well as
