Rhode Island officials, speaking after Moody's Investors Service elevated the bond rating of Central Falls, envision brighter days for the once-bankrupt city.

"Our handling of the Central Falls bankruptcy presents a national model to other municipalities in dire financial straits," Gov. Lincoln Chafee, echoing comments last month by a bankruptcy judge, said Friday after Moody's raised Central Falls' rating two notches, to B2 with a positive outlook from Caa1 with a negative outlook.

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