The Queen City once again has been given an AA+ credit rating according to Standard and Poor’s.
Because of Regina’s strong financial management and relatively low debt levels, Standards and Poor’s have confirmed the AA+ credit rating with a stable outlook.
“This is very positive. Maintaining this credit rating is an important accomplishment for the City,” Mayor Michael Fougere said. “The AA+ credit rating from Standard & Poor’s confirms the success of our strong financial planning and our balanced approach to budgeting.”
“Standard & Poor’s also included a very favorable opinion about the City’s economy,” Fougere added. “This is reassuring for Regina families who can count on a strong, growing local economy in a city that continues to deliver quality programs and services at reasonable cost.”
The Standard and Poor’s report states “Although the city is exposed to the oil, natural gas, and potash industries, its economy continues to benefit from a large, stable public sector, while strong population growth and increasing diversity help to insulate it somewhat from the impact of low commodity prices.”
Standard and Poor’s report notes the following about Regina’s economy:
- strong, stable economy
- resilient to continuing weakness in prices for oil, natural gas, and potash
- strong, immigration driven population growth
- increasing diversity into sectors such as banking and finance, computer and information technology, manufacturing, and telecommunications
- high income levels
An independent credit rating review of the city is performed yearly and provides an indicator of the city’s overall credit worthiness.
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