St. Paul Reporter

The City of St. Paul has a new AAA credit rating status with S&P Global and Fitch rating agencies, according to stpaul.gov. 

The city also appears to have a stable future base upon evidence found as part of a city bond sales process. Mayor Melvin Carter of St. Paul attributed this credit rating to the city’s ability to manage its finances intelligently and avoid making rash decisions that would only hurt the economy.

“We work every day to combine sound financial management with critical investments that help residents and businesses succeed,” Carter said. “Our improved credit rating is important affirmation that this strategy is serving our city well.”

As a part of an annual bond sales process, S&P Global and Fitch rating agencies analyze the financial health of a city by reviewing aspects such as its economic growth, the types of investments the city makes, whether or not it has an operating surplus and the management of the city and its finances, according to the City of St. Paul.