Listen Now ButtonListen Live Now!

Mailing List ButtonSign up for our Mailing List!

10-01-2016 LSU Pregame

St. Louis’ credit rating downgraded

Local

St. Louis’ credit rating downgraded

ST. LOUIS (AP) – St. Louis’ credit rating has been downgraded by a credit rating agency. The St. Louis Post-Dispatch reports (http://bit.ly/1Jdv4Un ) that Moody’s Investors Services downgraded the rating on $27.4 million of the city’s outstanding general obligation bonds by one notch. The agency also downgraded the rating on the St. Louis Municipal Finance […]

St. Louis’ credit rating downgraded

ST. LOUIS (AP) – St. Louis’ credit rating has been downgraded by a credit rating agency.
The St. Louis Post-Dispatch reports (http://bit.ly/1Jdv4Un ) that Moody’s Investors Services downgraded the rating on $27.4 million of the city’s outstanding general obligation bonds by one notch.

The agency also downgraded the rating on the St. Louis Municipal Finance Corporation’s $123.5 million of outstanding rated lease revenue debt issued for essential purposes, as well as the rating on the corporation’s $138.6 million of outstanding rated lease revenue debt for non-essential purposes.

Moody’s says it attributes the St. Louis downgrade in part to the “city’s weak socioeconomic profile, … relatively narrow financial position; and a high debt burden.”

St. Louis Comptroller Darlene Green said in a statement Monday the downgrade is because of the agency’s “revised rating’s methodology.”

Share:
  • googleplus
  • linkedin
  • tumblr
  • rss
  • pinterest
  • mail

By News

There are 0 comments

Leave a comment

Want to express your opinion?
Leave a reply!

Error, no group ID set! Check your syntax!