A recent report from S&P Global Ratings shows that Saskatchewan’s credit rating remains at AA based on what it calls a “stable outlook.”
“The three major rating agencies have now updated their credit rating and outlook for Saskatchewan following Budget 2021-2022, and we continue to have the second highest overall credit rating among Canadian provinces. Saskatchewan Deputy Premier and Minister of Finance said Donna Harpauer. .
Saskatchewan Maintains ‘Stable Outlook’ With S&P Global AA Credit Rating
“We are pleased that the major rating agencies continue to have confidence in our government’s fiscal and budgetary approach, despite the significant challenges posed by the global COVID-19 pandemic.”
In its report, S&P said it expects “as economic growth resumes, the province’s revenues will begin to recover and its financial results will improve significantly over the next two years.” .
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He said the province’s creditworthiness is tied to its strong financial management.
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“With regard to revenue and expenditure management, the government has always demonstrated its willingness to take corrective measures to control spending in order to compensate for revenue volatility,” the report said.
“Debt and liquidity management policies and practices are prudent and prudent. “
S&P also mentioned that with rising commodity prices in addition to reopening the economy, Saskatchewan’s economic rebound is expected to improve as the year progresses.
Global News Morning Market & Business Report – August 17, 2021
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