The city of New Orleans is receiving a credit upgrade which will help with future infrastructure projects.
Mayor LaToya Cantrell said yesterday the city's rating had been raised from A3 to A2 which is considered high quality and means New Orleans can get lower interest rates.
Three credit agencies issue ratings to cities based on how likely their governments are to pay back bonds used to fund road repairs, school development, and other construction projects.
City leaders say residents will see the new rating in effect as it will allow New Orleans to borrow money to complete smaller projects faster.
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