DBRS Affirms Saskatchewan's AA Credit Rating
The Dominion Bond Rating Service (DBRS) today affirmed Saskatchewan’s AA credit rating, unchanged since 2009, and keeping the province’s overall credit rating at the second-highest among all provinces, when all three rating agencies are considered.
“It’s positive to see our strong rating with DBRS affirmed,” Finance Minister Donna Harpauer said. “We’re achieving the right balance in Saskatchewan, by carefully managing spending, keeping our economy strong and investing in priorities for Saskatchewan people. We have a balanced budget projected for 2019-20, our economy is strengthening and we’ve had 10 consecutive months of job growth. There’s always more to do, but we’re heading in the right direction.”
In its rating report DBRS states: “The province’s budget was challenged by the commodity price downturn in 2015, but the economic and fiscal recovery are now underway.”
DBRS goes on to state that “Most significantly, Saskatchewan fulfilled its three-year commitment to balance the 2019 budget following the plan that was laid out in the 2017 budget. Saskatchewan’s commitment to prudent fiscal policy, along with the pace of fiscal consolidation, stands out among provinces.”
Saskatchewan continues to have the second-highest overall credit rating among provinces, behind only British Columbia, when the ratings of the three major agencies (Moody’s, Standard and Poor’s and Dominion Bond Rating Services) are considered.