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Comptroller Darlene Green Statement Regarding General Obligation Rating from Moody's
Moody's applauded the city's large and diverse tax base, its status as a regional economic center and its manageable fixed costs.
ST. LOUIS—Moody's Investors Service downgraded St. Louis' General Obligation (GO) from A2 to A3 and lease revenue debt by one notch today.
Moody’s noted the city’s narrow reserve levels, high debt profile and limited revenue-raising flexibility.
However, Moody’s applauded the city’s large and diverse tax base, its status as a regional economic center and its manageable fixed costs due to recent pension reform.
“The city’s strong fiscal management team has implemented a financial strategy to grow its reserves and diversify and increase its revenues. The city will seek legislation to further improve its financial position,” said Comptroller Green.
The city remains in the ‘A’ category for overall ratings and the majority of outstanding bonds with all three credit rating agencies Moody’s, S&P Global, and Fitch.
In October, S&P Global viewed the city’s strong fiscal management, adequate budget performance, and very strong liquidity as positive factors for reaffirming an A+ credit rating.
The Honorable Darlene Green, comptroller of the City of St. Louis, is the chief fiscal officer of the city and is charged with safeguarding the city's credit rating and with protecting taxpayer dollars. Visit www.stlouis-mo.gov/comptroller to learn more about the Office of the Comptroller.
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Contact Information:
Tyson Pruitt
Public Information Officer to the Comptroller
Office Phone: (314) 613-7360 -
Department:
Office of the Comptroller
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Topic:
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