State Sees Improvement in Credit Rating, Reach’s Highest Rating in 50 Years

ALBANY – New York State has the best Credit Rating in 50 Years.

Governor Andrew Cuomo, Senate Majority Co-Leaders Dean Skelos and Jeff Klein, and Assembly Speaker Sheldon Silver Monday issued statements regarding Moody’s Investors Service upgrading New York’s credit rating to Aa1 with stable outlook. This represents New York’s highest rating from Moody’s since 1964.

In its report, Moody’s points to New York’s sustained improvements in fiscal governance, the strength of the recent economic recovery, a strong financial position reflected in improved reserves, and reduced spending growth in line with growth in the state’s economic capacity.