NEW YORK (CBSNewYork) – Atlantic City has come out a winner in the latest assessment of its credit worthiness.
Moody’s Investors Service has upgraded the city’s credit rating two notches. They say that’s a reflection of the progress made under a 2016 state takeover.
Moody’s says Atlantic City is still under financial and economic stress but says it’s been reduced.
The state took control of the city’s finances three years ago due in part to problems caused by the contraction of the casino industry.