Moody's Investors Service upgraded its credit rating for Central Falls, R.I., to B2 from Caa1 after the city's emergence from chapter 9 bankruptcy, Reuters reported on Friday. The credit rating agency also revised its outlook for the city to positive. The actions affect $14.7 million of outstanding general obligation bonds. A state-appointed receiver for the city won court approval for a bankruptcy plan on Sept. 6, laying out an exit course just 13 months after its bankruptcy filing.
