Standard&Poor's Ratings Services has affirmed its 'SP-1+' short-term rating on the town of Southbridge, Mass.' general obligation (GO) bond anticipation notes (BANs) outstanding based on our revised criteria for evaluating and rating BANs. In our view, the town maintains a very strong capacity to pay principal and interest when the notes come due. The town maintains a low market risk profile as it maintains strong legal authority to issue long-term debt to take out the notes and is a frequent issuer that regularly provides ongoing disclosure to market participants. The BAN rating is based on the town's authorization and preapproval to issue state qualified bonds under the Massachusetts Qualified Bond Act (AA/Stable) to retire the BANs. At the
