Moody's Investors Service said it has upgraded the city of Central Falls, R.I.'s general obligation rating to B2 from Caa1, and revised the outlook to positive, affecting $14.7 million in outstanding general obligation bonds.

Concurrently, Moody's has also affirmed the city's Ba1 underlying rating and stable outlook on the Rhode Island Health and Educational Building Corporation's (RIHEBC) Series 2007B bonds, affecting $1.3 million in rated RIHEBC debt.

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