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Statement from the Office of Governor Lincoln D. Chafee Regarding Moody's Upgrade for East Providence
Congratulations to the City of East Providence on Moody's Investors Service's general obligation rating upgrade from Ba1 to Baa3. All of the difficult decisions by the Budget Commission and City officials have been recognized by the national rating agency. This is another example of the good work that has been done with the help and support of the State under the Fiscal Stability Act. Our State government has an important role to make sure that all of our communities are financially strong and vibrant.
This marked progress would not have been achieved if not for the partnership between the City and the Commission. Rhode Island is grateful to the Commission members (Michael O'Keefe, Diane Brennan, Steve Bannon, Council President and Mayor James Briden, and City Manager Peter Grazykowski), City staff, and Director Gallogly and the Department of Revenue staff members for all their dedication and determination to ensure a successful outcome.