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Buffalo Control Board’s Shift to Advisory Role Seen as Credit Positive by Moody’s

June 5, 2012
Press Release

In a weekly report to its clients, Moodys Investor Services pointed to the Buffalo Fiscal Stability Authoritys shift from a hard control board to a soft advisory panel as a credit-positiveendorsement of the citys improved ability to manage its own finances.

Moodys continues to notice the progress Buffalo has made in improving its financial condition and creditworthiness, said Buffalo Comptroller Mark J.F. Schroeder.

The report was part of Moodys Weekly Credit Outlook, a newsletter the rating agency publishes to keep its clients up to date on breaking credit market developments and trends. 

In April, Moodys upgraded the citys bond rating to A1, the highest in Buffalos history.  Prior to the upgrade, Moodys had taken notice of the progress at the Buffalo Niagara Medical Campusin a February publication titled Buffalos Economy Continues to Diversify, Led by Education and Health Care.  
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