A major credit-rating agency has once again affirmed Saskatchewan’s AA credit rating.
The latest rating comes from Standard & Poor’s. Saskatchewan continues to have the second-highest credit rating in the country, when the S&P rating is considered along with the triple-A rating from Moody’s Investors Service and the AA rating from the Dominion Bond Rating Service (DBRS).
“It is encouraging to see another strong rating confirmed. In Saskatchewan we continue to follow a fiscal plan to balance, carefully controlling spending while continuing to invest into priority services, programs and infrastructure for the people of the province,” Finance Minister Donna Harpauer said in a press release.
“It’s the right balance. Our most recent labour force statistics show that we’ve had 11 consecutive months of job growth – there are more people working in our province than ever before. It’s a signal that our economy is strengthening and while there is more work to do, we’re making progress.”
In its report, S&P highlighted the province’s policy response to the 2015 oil price collapse. It adds that a “decreased reliance on more volatile resource revenues, high wealth levels, and healthy cash balances also help to anchor the ratings.”
Credit ratings affect the cost of borrowing money.
The only province with a better credit rating than Saskatchewan is British Columbia.
