Moody’s gives positive review to NY state budget

ALBANY, N.Y. (AP) - An influential rating agency is giving a positive review to the state budget approved by New York leaders.

Moody’s Investors Service says Friday the nearly $140 billion budget signed Tuesday by Gov. Andrew Cuomo is a “credit positive.”

Moody’s analysis singles out investments in education and praises state leaders for reaching a deal before the end of the fiscal year.

The $138 billion spending plan expands pre-kindergarten education and provides tax relief to homeowners and corporations.

It comes with an additional $5 billion in one-time federal aid for Superstorm Sandy rebuilding and the rollout of the Affordable Care Act for uninsured New Yorkers.