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Central Falls bond rating up

Bond level raised to BB from C

Updated: Friday, 16 Nov 2012, 10:53 PM EST
Published : Friday, 16 Nov 2012, 10:53 PM EST

CENTRAL FALLS, R.I. - (WPRI) There is some good news for Central Falls.

The city's bond rating has been upgraded.

Standard and Poor's upgraded the city's bond rating to BB from C.

The improvement brings the financially troubled city close to investment grade.

Moody's upgraded the Central Falls bond status last month, which is when the city emerged from bankruptcy.