August 12, 2019 11:03 am

Moody’s confirms Saskatchewan’s triple-A credit rating

Moody’s Investors Service has upheld the triple-A credit rating and stable outlook for Saskatchewan.

Government of Saskatchewan
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The Saskatchewan government said Moody’s Investors Service has upheld the province’s triple-A credit rating.

Moody’s said its rating for the province “reflects healthy liquidity levels and solid economic growth over the next three years that support rising revenues.”

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READ MORE: Saskatchewan maintains ‘stable outlook’ with AA credit rating from S&P Global

It added that “economic growth also aids the province’s effort to return to balanced budgets this year” and “debt affordability remains very strong” in maintaining its stable outlook for Saskatchewan.

Finance Minister Donna Harpauer said it is another endorsement of the province’s fiscal plan.

“These affirmations demonstrate that the fiscal management and economic outlook of our province continue to be viewed favourably by the rating agencies,” Harpauer said Monday in a press release.

“Our government’s plan to balance the provincial budget this fiscal year remains on track, and we continue to carefully control spending while investing in the programs, services, and infrastructure that Saskatchewan people need.”

READ MORE: Moody’s downgrades Ontario’s credit rating

The Dominion Bond Rating Service affirmed its AA rating for Saskatchewan in June, and Standard and Poor’s Global Ratings said last week it is maintaining its AA rating for the province.

Government officials said Saskatchewan continues to have the second-highest credit rating in Canada when the ratings from the three major agencies are considered.

© 2019 Global News, a division of Corus Entertainment Inc.

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