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New York State Comptroller Thomas DiNapoli. Photo: <a href="http://commons.wikimedia.org/wiki/File:New_York_State_Comptroller_Thomas_P._DiNapoli.jpg">Awhill34</a>, Creative Commons, some rights reserved
New York State Comptroller Thomas DiNapoli. Photo: Awhill34, Creative Commons, some rights reserved

New York state comptroller lauds bond rate upgrade

ALBANY, N.Y. (AP) New York's comptroller says a rating upgrade for state general obligation bonds is sign that New York is on the right financial path.

Comptroller Thomas DiNapoli says the upgrade from Moody's Investors Service to Aa1 is the highest level since the fiscal crisis of the mid-1970s.

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The state is now one notch below the highest bond rating.

DiNapoli says the upgrade reflects the steps the governor and the Legislature have taken in recent years to keep spending in line with revenues. The comptroller says the challenge now will to be to build on this positive step. 

Copyright 2014 The Associated Press. All rights reserved

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