Glendale's Financial Outlook Improving

By Al Macias
Published: Tuesday, September 30, 2014 - 6:05pm

Some good financial news for the city of Glendale, Moody’s Investors Services has upgraded the city’s financial outlook from negative to stable.

The city is still carrying a high debt burden and Moody’s says the city’s operating funds remain weak but are improving.

Additionally, the city's now permanent sales tax rate increase to a 1.9 percent rate from 1.2 percent will continue to provide more revenue to support operations according to the credit rating company.