UNIVERSITY CITY, Mo. – On May 9, the City of University City was assigned an “AA+” credit rating from S&P Global Ratings, a leading credit rating agency. A credit rating of “AA+” is the second-highest bond rating assigned by S&P.
In addition, they issued an “AA” long-term rating to the city's anticipated $25.6 million series 2024 certificates of participation, which will be utilized to fund the anticipated Police Annex and Court Trinity renovation project.
In their review, S&P Global states that their rating, “Reflects our view of the city's strong economy, robust budgetary flexibility and liquidity and strong budgetary performance, and strong management and good financial policies and practices.”
City Manager Gregory Rose expressed enthusiasm regarding the credit ratings report. “Clearly, S&P Global recognizes our high level of fiscal responsibility and financial practices with this credit rating issuance. We are committed to upholding this exceptional performance in future fiscal years and projects.,” said Rose.
S&P Global’s credit rating review gave a stable outlook due to the City’s, “robust reserve position, growing local economy, and strong management.”
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