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Schenectady's credit rating climbs

S&P cites stable outlook, improving local economy, warns of possible pitfalls

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Schenectady’s bond rating was upgraded by Standard & Poor’s last week, reflecting the city’s stable financial outlook and improving local economy. The service raised its underlying rating on the city’s general obligation bonds one notch, from ‘A-minus’ to ‘A.’ The change is indicative of the city’s “weak but improving local economy and its strong reserve and liquidity position,” the service stated after raising the rating Thursday. S&P did warn, however, the city still faces pitfalls ...

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