Moody's Confirms Saskatchewan's Aaa Credit Rating
Moody’s Investors Service today confirmed Saskatchewan’s Aaa credit rating, the agency’s highest rating for Canadian provinces.
“Moody’s Aaa rating for our province is a further demonstration that our government’s fiscal plan is on track,” Finance Minister Donna Harpauer said. “We’re heading in the right direction, reducing our deficit through careful management of our spending, keeping our economy strong and investing in priorities for Saskatchewan people. We’re focused on returning the budget to balance by 2019-20.”
In its update report, Moody’s cites “very strong debt affordability, a health liquidity cushion and conservative fiscal and financial management practices.”
Moody’s goes on to state that “Saskatchewan’s strong debt affordability and healthy cash levels position the province solidly against provincial peers and support its strong credit rating.”
Saskatchewan and British Columbia are the only two provinces with Aaa ratings from Moody’s. Saskatchewan continues to have the second-highest overall credit rating among provinces, behind only BC, when the ratings of the three major agencies (Moody’s, Standard and Poor’s and Dominion Bond Rating Services) are considered.