St. Pete’s credit rating gets a welcomed boost
The City of St. Petersburg’s credit rating has been upgraded by Moody’s Investors Services from negative to stable. The upgrade in the issuer rating is based on the city’s large tax base, improved operating reserves and conservative budgeting practices. The upgrade “reflects the city’s return to positive financial operations. “My administration is committed to thoughtful fiscal management, rigorous expenditure controls and smart budgeting practices that keep structural balance in our finances and budget,” Mayor Rick Kriseman said. One of the…