Summary: Marlborough, Massachusetts; General Obligation; Note Jun 10

Standard & Poors, June 2010

Abstract
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Marlborough, Mass.' general obligation (GO) bond anticipation notes and affirmed its 'AA+' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. The short-term rating reflects the city's underlying credit quality and demonstrated access to credit markets, evidenced by previous note borrowings. The city's bond authorization includes the ability to issue these BANs and the long-term bonds necessary to repay the BANs at maturity. The 'AA+' rating reflects the city's: Stable local economy with a sound commercial and retail base, coupled with access to the area's broader employment bases; Favorable unemployment and strong income levels; Very strong market value and significant unused levy...

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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

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.

Marlborough

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