City of Davenport's strong credit ratings reaffirmed

(March 30, 2026)The City of Davenport's strong credit ratings have been reaffirmed by both Moody's and Standard & Poor's, reinforcing the City's long-term financial stability. The City's S&P rating is AA and stable, and Moody's reaffirmed its Aa2 rating, also with a stable outlook.

City leadership met with both agencies to deliver a comprehensive and transparent look at the City's finances and future planning. S&P Global's report highlighted the City's conservative budgeting practices, strong general fund reserves, and manageable debt levels. Moody's also recognized Davenport's commitment to transparency, including monthly financial reporting and multi-year financial projections.

"The City's strong financial standing is the result of following some of the most disciplined budgeting practices," said Basia Gerlach, Chief Financial Officer for the City of Davenport. "While municipal finances are complex, credit ratings serve as an independent, credible review of the City's financial health."

Maintaining positive credit ratings allow the City to maximize the capital improvement program in a cost-effective way for residents. Following a series of budget work sessions in January and February, the Davenport City Council is expected to approve the FY 2027 budget in April.