05.19.2008 2:48 pm
St. Louis gets credit-rating boost
St. Louis Post-Dispatch
Standard & Poor’s delivered a bit of good news to city officials today: It raised St. Louis’ credit rating a notch, from A to A-plus. The agency also assigned an “A” rating to the revenue bonds the city issued last year to help shore up its pension plans.
The higher overall rating should save St. Louis money on future borrowing costs. In a statement explaining the upgrade, S&P analyst John Kenward said the ratings
reflect its (St. Louis’) position as the center of a diverse regional economy, strong tax-base growth in recent years, good financial management and limited debt plans. Credit weaknesses include a high unemployment rate, well-below-average income levels and a moderately high debt burden.
(No Ratings Yet)
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David Nicklaus has covered St. Louis business for more than 25 years. His column appears three days a week on the Post-Dispatch business page. 
