Fitch Ratings upgraded New York’s bond rating today, the agency’s highest rating ever for the state.
Gov. Andrew Cuomo held a conference call with reporters this afternoon to praise the report and highlight the state’s fiscal prudence since he took office—in advance of his re-election bid in the fall.
Cuomo called the bond ratings the “most powerful affirmation of the progress” the state has made in his four years in office.
Fitch said: “The upgrade reflects the improved fiscal management practices of recent years that have resulted in timely and more sustainable budget-making. Notable recurring actions were taken to close budget gaps in the downturn, and in the recovery the state has limited the growth in spending.”