By Alabama Public Radio
Montgomery, AL – Moody's Investors Service has upgraded Alabama's bond rating. Moody's has raised the state's rating from its fourth highest ranking to its third highest. Moody's says the upgrade is due to several factors, including job growth and strong financial management practices. State Finance Director Jim Main says the upgrade should help Alabama get a lower interest rate on its next bond issue. Seven states have Moody's top debt rating for general-obligation bonds. 12 states have the second-highest, and 12, including Alabama, have that third highest rating.