BOSTON (Standard&Poor's) April 13, 2007--Standard&Poor's Ratings Services lowered its underlying rating (SPUR) on Westfield, Mass.' GO debt two notches to 'A-' from 'A+', based on the deterioration of the city's financial position to a very thin level below 1% of expenditures. The outlook is stable. The rating also reflects the city's growing, primarily residential tax base with a mix of industrial and commercial sectors; and sound unemployment and income levels. "We expect that the city's financial position will stabilize at the current level, based on the indications of city management," said Standard&Poor's credit analyst Henry Henderson. "However, the city lacks financial flexibility at the current level, and if structural budget balance is not achieved
