(March 25, 2025) The City of Davenport’s credit ratings have been reaffirmed by both Moody’s and Standard & Poor’s, demonstrating the City’s financial health and outlook. The City’s S&P rating is AA and stable. In reaffirming the City’s Aa2 rating, Moody’s also upgraded the outlook from stable to positive.
Moody’s highlighted several of the City’s credit strengths, including its role as a regional economic center, strong available fund balance, and liquidity ratios. S&P also noted the city's strong economic growth potential in its rating review.
“Achieving strong credit ratings from Moody's and S&P is a testament to our strong financial policies, commitment to balanced budgeting, and robust financial management,” said Basia Gerlach, Chief Financial Officer for the City of Davenport. “This success demonstrates the dedication and hard work of elected officials and city staff, whose commitment to excellence drives our financial strategies.”
Overall, positive credit ratings result in lower borrowing costs, helping the City save money on financing and freeing up funding to spend directly on capital projects including street improvements.