July 18 Moody's Investors Service on Thursday
upgraded its credit rating on the formerly bankrupt Rhode Island
city of Central Falls to B1 from B2, citing its successful
emergence from bankruptcy and transition back to local political
Moody's outlook on the tiny city is also positive,
reflecting the credit rating agency's belief that Central Falls
will maintain its structural balance and keep making its full
annual pension contributions.
The rating action affects $13.7 million in outstanding
genearl obligation debt.