August 12, 2019

Saskatchewan's Triple-A Credit Rating Upheld By Moody's

Moody’s Investors Service has affirmed Saskatchewan’s triple-A credit rating, and has also maintained its stable outlook for the province. Saskatchewan’s credit rating and outlook have now been upheld by all three major rating agencies in recent weeks.

The Dominion Bond Rating Service affirmed its AA rating for Saskatchewan in June, and last week Standard and Poor’s Global Ratings maintained its AA rating for the province.

“This is another strong endorsement of our Government’s fiscal plan,” Finance Minister Donna Harpauer said.  “These affirmations demonstrate that the fiscal management and economic outlook of our province continue to be viewed favorably by the rating agencies.”

In maintaining Saskatchewan’s triple-A rating and stable outlook, Moody’s states that “the credit profile of the Province of Saskatchewan (Aaa stable) reflects healthy liquidity levels and solid economic growth over the next three years that support rising revenues.”  Moody’s adds that “economic growth also aids the province's effort to return to balanced budgets this year” and that “debt affordability remains very strong.”

Following this latest credit rating affirmation, Saskatchewan continues to have the second-highest credit rating in Canada, when ratings from the three major agencies are considered.