Binghamton Short-Term Debt Rating Upgraded
Moody’s Investors Service has upgraded its rating on the City of Binghamton’s short-term debt.
The ratings service Monday also announced it has changed its outlook for Binghamton to “stable.”
Moody’s in January downgraded the rating on the city’s long-term general obligation debt. That rating remains unchanged.
Mayor Matthew Ryan has said he expected that rating will be raised after the city’s 2011 audit has been completed. The mayor has said the city should be able to provide the additional audit information requested by Moody’s soon.
In Monday’s report, Moody’s again cited delayed audited financial statements as a challenge facing the city of Binghamton.
Ryan has said he and city officials have been keeping in touch with Moody’s representatives in an effort to improve Binghamton’s overall credit rating.