Standard&Poor's Ratings Services has assigned its 'SP-1+' short-term rating to Southbridge, Mass.' general obligation (GO) bond anticipation notes (BANs) based on the town's general creditworthiness and demonstrated market access. The short-term rating is further supported by the town's authorization and preapproval to issue state qualified bonds under the Massachusetts Qualified Bond Act (AA-/Positive) to retire the BANs. Standard&Poor's also affirmed its 'A+' underlying rating (SPUR) on the town's previously rated GO debt, which reflects our opinion of the town's: Manufacturing-based local economy with additional employment opportunities in the city of Worcester (A-/Stable); Adequate income per capita market valuation levels and elevated unemployment rate; Strong financial reserve position; and Low-to-moderate debt burden. The town's full faith and
