Moody's Investors Service on Monday called the expected federal aid for New York City Mayor Michael Bloomberg's $20 billion storm-resistance plan a credit positive.

"Federal responsibility for paying for disaster relief has long been a credit strength for U.S. state and local governments and is a factor that bolsters their ratings," Moody's said, citing the Federal Emergency Management Agency's track record of paying at least 75% of emergency response and cleanup costs after natural disasters.

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