Last week Fitch Ratings and Standard & Poor’s reaffirmed Missouri’s AAA credit rating. The ratings, which apply to general obligation bonds issued by the state, help keep borrowing rates low for school districts, local governments, and public bodies that borrow money to undertake major projects. Missouri’s general obligation debt also has been rated AAA by Moody’s.
Fitch Ratings also upgraded St. Louis’ $740.2 million outstanding airport revenue bonds to BBB+ from BBB, noting continued stable traffic trends at Lambert-St. Louis International Airport following years of volatility due to the loss of the American Airlines hub and the economic recession. Lambert has seen two straight years of passenger growth. This summer, Lambert airlines are operating on average 255 daily departures to 63 non-stop locations.