REGINA — Thursday, S&P Global Ratings affirmed Saskatchewan’s credit rating at AA with a stable outlook.
In its release, S&P states: “We expect that a swelling population will buoy economic and revenue growth, and that the province will maintain its focus on controlling expenditures to sustain operating surpluses.”
The latest quarterly population estimate as of April 1, 2024, shows that Saskatchewan’s population continues to increase, with more than 30,500 additional residents calling Saskatchewan home in the last year. In addition, Saskatchewan’s 2023 real GDP reached an all-time high of $77.9 billion, placing the province second-highest among provinces for real GDP growth.
Saskatchewan is currently ranked the highest amongst all Canadian provinces by S&P and has the second-highest rating among the provinces when all three major credit rating agencies – Moody’s Ratings, S&P Global Ratings and Morningstar DBRS – are considered. Earlier this year, Moody’s affirmed Saskatchewan’s Aa1 rating.
