Summary: Needham, Massachusetts; General Obligation Jun 08

Standard & Poors, June 2008

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Needham, Mass.' series 2008 general obligation (GO) municipal purpose bonds and affirmed its 'AAA' rating, with a stable outlook, on the town's previously issued GO debt. The ratings reflect the town's: Affluent and growing property tax base, with high income and property wealth; Sound and consistent financial position; and Low to average debt burden, with rapid amortization. Needham's full-faith pledge secures the bonds. Officials will use the bond proceeds for school construction, primarily for the town's high school. Needham, with a population of 28,722, is 10 miles southwest of Boston, Mass., in one of the nation's wealthiest regions. Because of the town's proximity to Boston, home prices...

Companies mentioned in this report are: Needham
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Needham

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