Moody’s Upgrades NY

Nick Reisman

Moody’s Investment Services upgraded New York’s bond rating from Aa2 to Aa1, citing both a well-funded pension system and a reversal of government gridlock.

Moody’s pointed to the state’s economy improving during the economic recovery and a reduction in spending growth. Gov. Andrew Cuomo has proposed budgets that have kept spending under 2 percent increases year over year.

“The stable outlook reflects our expectation that the state will preserve and improve upon the gains it has made in governance and its financial position,” Moody’s found.

http://www.nystateofpolitics.com/2014/06/moodys-upgrades-ny/