S&P Global Ratings assigned its 'AA' long-term rating to the City of Westfield, Mass.' general obligation (GO) municipal-purpose loan of 2021 bonds, totaling $4.015 million, and affirmed its 'AA' rating on the city's GO debt outstanding. It also assigned its 'SP-1+' short-term rating to Westfield's $4.84 million series 2021 GO bond anticipation notes (BANs). The outlook, where applicable, is stable. The city's full faith and credit pledge, subject to the limitations of Proposition 2-1/2, secures the GO bonds and BANs. Despite commonwealth levy limit laws, we did not make a rating distinction between Westfield's limited-tax debt and the city's general creditworthiness because our analysis of its financial and economic conditions already includes the statutory limitation imposed on its revenue-raising ability.
