Moody’s backs RI pension settlement as ‘credit positive’

Moodys RI pension settlement cropBy Ted Nesi

PROVIDENCE, R.I. (WPRI) – A top Wall Street ratings agency is throwing its support behind the proposed pension settlement deal reached earlier this month by Gov. Lincoln Chafee, Treasurer Gina Raimondo and the state’s labor unions.

The analysts from Moody’s Investors Service acknowledged, however, that some of Rhode Island’s more cash-strapped local governments could struggle to fund the higher costs called for under the pension settlement, singling out Woonsocket and Providence.

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• Related: 10 ways to look at the proposed RI pension settlement (Feb. 20)

(chart: Moody’s Investors Service)

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