Standard & Poor's upgrades Fall River bond rating - News, Weather and Classifieds for Southern New England

Standard & Poor's upgrades Fall River bond rating

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FALL RIVER, Mass. -

The city of Fall River on Thursday announced its highest bond rating in a decade.

Mayor Will Flanagan announced Standard & Poor's upgraded the city's bond rating from BBB to A-. He also expressed confidence that the increase will attract new business.

"From a fiscal standpoint, we're solid," Flanagan said.

While the bond rating has gone up, so have taxes and cost of living over the years. Flanagan said along with bringing in new business, these are the city's most cumbersome financial challenges.

He also said an A- isn't good enough.

"An A- is a good rating but we also want to go up to an AA rating," Flanagan said.

Flanagan credited a strong financial team and weekly financial planning meetings for this success, those started when he took office.

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