REGINA - Saskatchewan has maintained its AA credit rating according to a recent report from S&P Global Ratings.
S&P Global Ratings has cited Saskatchewan's “prudent financial management” in affirming the province's AA credit rating and stable outlook.
The province cited this statement from S&P in its news release: "Saskatchewan demonstrates what we view as strong financial management that supports its creditworthiness. The government has historically demonstrated a willingness to control spending to offset revenue volatility and has taken steps to expand its revenue base to limit reliance on non-renewable resource revenues."
According to the province’s news release Saskatchewan currently has the highest credit rating from S&P among Canadian provinces, and the second highest credit rating among the provinces when all three major rating agencies — Moody's, DBRS Morningstar, and S&P —are considered.
"Thanks to our growing economy, our finances are strong and we can responsibly invest in the programs and services that matter to Saskatchewan people while also committing to further paying down debt with this year's surplus," Deputy Premier and Finance Minister Donna Harpauer said in a statement. "We're encouraged by S&P's report and affirmation of our credit rating."
