Fitch upgrades NY state general obligation bonds to 'AA+'

June 20 Fri Jun 20, 2014 4:31pm EDT

June 20 (Reuters) - Fitch Ratings upgraded the rating for the State of New York's general obligation (GO) bonds to 'AA+' from 'AA', citing improved fiscal management practices by the state in recent years.

The ratings agency expects that the state will continue to adhere to strengthened fiscal management practices. (bit.ly/1kVVUjj)

Fitch added that New York's debt burden is above average but still in the moderate range, with a modest decline in the burden of debt in the recent years. (Reporting By Tanvi Mehta in Bangalore)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.