S&P says U.S. public finance ratings strong in Q1 2013

Wed May 1, 2013 3:43pm EDT

May 1 (Reuters) - Standard & Poor's Ratings Services said on Wednesday that its upgrades of U.S. municipal bond issuers had outpaced downgrades by a ratio of 1.57 to 1 in the first quarter of 2013.

State and local governments, many of which cut spending after the recession caused revenue drops, have also begun to see their revenues rebound to pre-recession levels, S&P said.