The City of Saskatoon has today received another AAA/stable credit rating from the international bond-rating agency, Standard & Poor’s.

“We are delighted the City has again received such an endorsement,” says His Worship the Mayor Donald Atchison.  “The ‘triple-A’ credit rating is another sign the City is financially strong, it has spent wisely and is able to make important future plans – all making Saskatoon a great place to live.”

Every year Standard & Poor’s reviews the City’s finances and delivers the rating in a report based on that study.

“The ratings reflect our opinion of the City’s strong cash and liquidity levels, well-performing economy, and strong operating performance,” the report says.

Standard & Poor’s also continues to view the financial outlook for Saskatoon as stable.  The agency is confident that cash flow and cash investments will increase to offset any rising debt.  In other words, Saskatoon’s leading economy is expected to keep growing.

“A ‘triple-A’ credit rating is proof that the City’s balanced spending approach works,” says Corporate Services Manager Marlys Bilanski.  “We continue to invest in those services that citizens want today, but we can also prepare for the community needs of tomorrow.”

The City of Saskatoon has received the AAA/stable credit rating every year for more than a decade.

Receiving a AAA credit rating essentially means that the City of Saskatoon can borrow money at lower rates, and is viewed by financial institutions as having virtually no-risk with respect to defaulting on credit.

Follow us on Twitter, Facebook, or our City Blog. Click on the links at www.saskatoon.ca.