Standard&Poor's Ratings Services assigned its 'A-' rating, with a stable outlook, to Westfield, Mass.' series 2008 general obligation (GO) municipal purpose loan bonds. In addition, Standard&Poor's affirmed the 'A-' rating on the city's outstanding debt. The rating reflects the city's: Growing (primarily residential) tax base, with a mix of industrial and commercial sectors; Sound employment and income levels; and Below-average debt burden, net of school reimbursement grants, and manageable future capital needs. These factors are mitigated by the city's thin financial position and levy limitations, which could result in future budgetary pressures. The city's full faith and GO credit pledge secures the bonds. Proceeds will be used primarily to retire outstanding bond anticipation notes (BANs) that
