CENTRAL FALLS – Standard & Poor’s has affirmed the Central Falls long-term bond rating at BB, while affirming a positive outlook, according to Mayor James A. Diossa, who announced the update in a news release Thursday.
The BB status, initially set in 2012, is one level below investment grade on the Standard & Poor scale of investment ratings.
The confirmation of a positive outlook recognizes the positive financial work taking place in the city, Diossa said.
“We have worked hard to come back from a difficult bankruptcy and restore a culture of fiscal responsibility and sound budgetary practices, which ratings agencies have recognized,” he said.
Credit rating agency Moody’s Investors Service last raised its rating for Central Falls in 2012 from Ba3 to B1 with a stable outlook.
