The city of St. Louis has maintained a strong credit rating for 30 years, attributed to its robust fiscal management and budgeting policies. Comptroller Darlene Green emphasized the importance of protecting the city’s credit rating amidst proposed charter changes that she argues could undermine these financial safeguards.
“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,” Green stated. She further explained, “Once again, these charter changes would remove the careful budget management, good financial policies, and adequate spending controls that rating agencies regularly report that St. Louis city must have to earn and maintain its good credit.”
In 2023, during the city’s annual credit assessment, all three major credit rating agencies upgraded St. Louis’s credit status. On May 19, 2023, Standard & Poor’s elevated the city’s rating from A to A+, citing “strong management with good financial management policies under our Financial Management Assessment (criteria).” Similarly, on May 5, 2023, Fitch Ratings improved the city’s rating from A- to A, noting “the ratings are also supported by the city’s adequate spending controls.” Moody’s Investors Service followed suit on September 19, 2023, upgrading St. Louis’s credit from A3 to A2 and attributing this improvement to “careful budget management.”
Green reiterated that each agency highlighted sound financial management and budgeting policies as crucial factors in maintaining St. Louis’s strong credit rating.
Comptroller Darlene Green serves as the chief fiscal officer of St. Louis and is responsible for safeguarding both the city’s credit rating and taxpayer dollars.
For more information about the Office of the Comptroller, visit www.stlouismo.gov/comptroller.
