January 23, 2012 10:57
Saskatoon has received AAA credit rating for over 10 years in a row. Standard and Poor's has completed their annual assessment and Saskatoon is only one of 3 cities in Canada to receive a AAA credit rating. This independent third party assessment is important because an impartial financial assessor tells us how well we do in managing our finances, and how we compare to other cities in Canada. Some quotes directly from the report:
"Saskatoon's economic fundamentals, in our view, are excellent.""The city has strong budgetary performance.""In 2010, Saskatoon debt burden was a manageable 3.2% of operating revenues.""In 2010, and since 2001, cash investments have been well above 1000% of debt service.""Saskatoon's financial management is sound, in our view.""Relative to both international and domestic peers, we view Saskatoon's operating balances to adjusted operating revenues as exceptional."
Here's how Saskatoon compares with other cities in Canada...
City Rating Outlook (as forecast by Standard and Poor's) Saskatoon AAA Stable Regina AA+ Negative Edmonton AA+ Stable Calgary AA+ Stable Winnipeg AA Stable Vancouver AA Stable Toronto AA Stable To view the rationale for Standard and Poor's assessment of the City of Saskatoon click the pdf below.Standard and Poor's 2012.pdf (386.00 kb)