Last week St. Louis Comptroller Darlene Green reassured city of St. Louis taxpayers and bondholders that the city’s A+ credit rating remains strong in light of Standard & Poor’s downgrade of U.S. sovereign debt over the previous weekend.
“The city continues to take proactive steps to make certain its conservative fiscal policy and balanced budget remain the cornerstone for our long-term financial stability,” said Comptroller Green.
In 2008, during the height of the nation’s financial crisis when many other cities had their debt downgraded, S&P raised the city of St. Louis’ long-term credit rating to A+ with a stable outlook. This represented the highest credit rating for the city in 35 years.