Contact Us

Moody’s Upgrades New York’s Prospects

Alex Wong, Getty Images

ALBANY, N.Y. (AP) — A major bond rating service has upgraded its view on the future of New York’s economy and government from stable to positive and continued to rate the state’s $3.5 billion in general obligation bonds at Aa2.

Moody’s Investors Service cited the state’s resilience during and after the Great Recession, closing state budget gaps, reduction of government gridlock and its relatively well-funded public employee pension system for the brighter outlook.

But it also warned Thursday that the state’s economy depends heavily on the health of the financial services industry, maintains relatively low fund balances that could make the budget vulnerable to volatility in revenue and using bonding in the past to cover deficit spending has left New York with tax-supported debt that is above average.

More From WIBX

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wibx950.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on WIBX 950 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on WIBX 950 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!