Albany, NY (January 4, 2013)
"Over the past two years, we have taken steps to restore fiscal responsibility across all levels of state government, including two consecutive balanced budgets, holding the line on spending increases, and streamlining agency and authority operations to do more with less.
"Today's action by Standard & Poor's Ratings Services to revise its credit outlook on the New York State Power Authority to positive from stable is yet another demonstration that the steps taken to make government perform are indeed working.
"NYPA has been a central part of fueling our state's economic recovery, with initiatives such as ReCharge NY to provide low-cost power to support new jobs and business growth, the Energy Highway to rebuild the state's aging electric transmission infrastructure, and Build Smart NY to lower operating costs of state facilities. I commend the leadership of NYPA, including President & CEO Gil Quiniones, and Chairman John Koelmel, for this accomplishment."