Troy bond credit rating changed to stable

TROY, N.Y. (NEWS10) – The City of Troy’s bond credit rating have been given a boost.

Moody’s Investors Service has changed the Collar City’s outlook from “negative” to “stable.”

Moody’s says the stable outlook reflects efforts by the city management to build balanced budgets and bring some stability to the tax base.

Mayor Patrick Madden called the rating critical for continued economic growth and restoring Troy’s financial standing.

City Council President Carmella Mantello echoed the sentiments saying she’s pleased that Moody’s changed the outlook. She says generating new revenue is the next step forward.

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