S&P Global Ratings has once again given the City of Saskatoon AAA credit rating with a stable outlook. Chief Financial Officer Clae Hack says the City has maintained that rating for twenty years, since S&P first began affirming Saskatoon’s credit ratings in 2002. Hack is pleased with the rating, especially given the financial challenges the City and other municipalities have weathered because of the pandemic. He notes that Saskatoon has a diverse economy and he suggests the City also has strong operating surpluses and prudent financial management.

Key rationale within the January 18, 2022, S&P Global Ratings Direct® Report include:

– The City’s strong and prudent financial management is a key credit strength and its management team is experienced and qualified to effectively enact fiscal policies and respond to external risks.
– The City demonstrates good political and managerial strength with its lengthy track record of passing budgets with minimal variations from budgeted revenues and expenses.
– Management’s disclosure and transparency are good, and the City prepares robust annual budget documents, with multi-year operating and capital budgets and long-term capital and borrowing plans.
– The City’s strong budgetary performance will assist in keeping the debt burden manageable.
– An exceptional liquidity position will continue to support its creditworthiness.
– The City’s strong and prudent financial management is a key credit strength and its management team is experienced and qualified to effectively enact fiscal policies and respond to external risks.
– The City demonstrates good political and managerial strength with its lengthy track record of passing budgets with minimal variations from budgeted revenues and expenses.
– Management’s disclosure and transparency are good, and the City prepares robust annual budget documents, with multi-year operating and capital budgets and long-term capital and borrowing plans.
– The City’s strong budgetary performance will assist in keeping the debt burden manageable.
– An exceptional liquidity position will continue to support its creditworthiness.