The 'A+' rating on Westfield, Mass.' $24.365 million GO refunding bonds reflects the city's: Modestly growing, primarily residential tax base with a mix of industrial and commercial sectors; Unemployment rates that have remained below state and national levels through the current economic slowdown; and Income levels that have historically approximated the nation's averages. A financial position that has narrowed, leaving the city with minimal reserves during a time of statewide fiscal crisis, is the primary offsetting factor. The city's full faith and GO credit pledge secures the bonds. Westfield, with a population of 40,072, is 10 miles west of Springfield, Mass. in the foothills of the Berkshires. The 47 square-mile Westfield is Massachusetts' second-largest city by area. The city's favorable
