Saskatchewan earned an AA crediting from Standard and Poor’s (S&P) Global Ratings, maintaining its “stable outlook.”
The province currently has a triple-A rating from Moody’s Investors Service and an AA rating from the Dominion Bond Rating Services (DBRS).
The combined valuations secure Saskatchewan’s credit rating as the second-highest in Canada, according to the province.
READ MORE: Moody’s downgrades Ontario’s credit rating
“It is encouraging to see another strong rating confirmed,” Finance Minister Donna Harpauer said.
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“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.”
S&P Global stated in its report, “The Province of Saskatchewan’s policy response to the 2015 oil price collapse that included a balance of revenue and expenditure measures continues to positively affect the province’s budget performance.”
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“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,” Harpauer said.
“It’s a signal that our economy is strengthening and while there is more work to do, we’re making progress.”
S&P Global’s report also said, “Decreased reliance on more volatile resource revenues, high wealth levels, and healthy cash balances also help to anchor the ratings.”
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