For the first time in about 12 years, Moody's Ratings has given the City of Houston a better "report card" on its finances.

Last week, Moody's upgraded Houston's general credit rating to Aa2 from Aa3, the city's first ratings upgrade from the agency in about 12 years.

Moody's also kept a stable outlook, meaning it expects Houston's finances to stay on a steady track for now.