Moody’s Investors Service has assigned A2 ratings to the Town of Middleborough’s $7.95 million General Obligation Municipal Purpose Loan of 2007 Bonds and to the town’s $3.49 million General Obligation Landfill Bonds (Subject to Federal and Massachusetts Income Taxation). Concurrently, Moody’s has affirmed the town’s long-term A2 rating and assigned a negative outlook affecting $34.7 million in outstanding long-term debt. The Series A bonds are issued to permanently finance various town capital projects, including the final tranche of bonds issued to finance the town’s share of its junior high school renovation. The Series B bonds are issued to permanently finance remediation of a failed landfill. Both series of bonds are secured by the town’s general obligation limited tax pledge as debt service has not been excluded from Proposition 2 ½. Affirmation of the A2 long-term rating incorporates Middleborough’s moderately-sized and growing tax base with average wealth and income levels, an affordable debt burden, and a tax base experiencing moderate expansion. Assignment of the negative outlook reflects a significantly narrowed financial position with slim reserve levels which are unlikely to be replenished in the short term. (September 11, 2007, Moody’s Investors Service Press Release)