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.
