The city of St. Louis has maintained a good credit rating for 30 years due to its strong fiscal management and budgeting policies. Comptroller Darlene Green emphasized the importance of protecting the city’s credit, stating, “Protecting and maintaining the city’s good credit is hard work; that’s why I’m fighting so hard against these misguided charter changes that would damage the city’s credit.” She further explained that the proposed charter changes could undermine the financial practices necessary to maintain the city’s credit rating.
In 2023, all three major credit rating agencies upgraded St. Louis’s credit rating. On May 19, 2023, Standard & Poor’s raised the city’s rating from A to A+, citing “strong management with good financial management policies under our Financial Management Assessment (criteria).” Fitch followed suit on May 5, 2023, upgrading the city from A- to A and noting that “the ratings are also supported by the city’s adequate spending controls.” Moody’s also upgraded St. Louis’s rating on September 19, 2023, moving it from A3 to A2 and attributing this improvement to “careful budget management.”
These upgrades confirm that each agency acknowledges St. Louis’s sound financial management and budgeting policies as critical factors in maintaining its good credit.
Comptroller Darlene Green serves as the chief fiscal officer of St. Louis, responsible for safeguarding the city’s credit rating and protecting taxpayer dollars. More information about her office can be found at www.stlouismo.gov/comptroller.
