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S&P lifts East Providence, R.I. GO debt rating 5 notches to A
October 1, 2013 / 3:31 PM / 4 years ago

S&P lifts East Providence, R.I. GO debt rating 5 notches to A

Oct 1 (Reuters) - Standard & Poor’s Ratings Service said on Tuesday it raised East Providence, Rhode Island’s general obligation debt rating five notches to A from BB-plus, citing S&P’s revised local GO criteria and the city’s improving finances.

The upgrade also reflects the city’s lower long-term pension liabilities, S&P credit analyst Victor Medeiros said in a statement.

The city also “significantly bolstered financial management controls” through a state-imposed budget commission, S&P said.

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