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Financial Performance & Credit Rating

January 27, 2021, the City of Saskatoon received another 'AAA'/Stable credit rating from the international bond-rating agency, S&P Global Ratings (S&P). 

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

The S&P Global Ratings January 2021 Report, based on the City's 2019 financial statements and operating results as well as the current outlook for Saskatoon, notes the City’s historically stable budgetary performance and sound financial management and policies,. The report foresees a strong, diverse economy and healthy outlook for Saskatoon which will support the City's continued strong budgetary performance.

 S&P Global Ratings Research Update January 2021 "Prudent financial management practices will support the City of Saskatoon's creditworthiness"

 S&P Global Ratings Research Update February 2020  "City of Saskatoon Ratings Affirmed at 'AAA'; Outlook Remains Stable"
 S&P Global Ratings  Research Update January 2019 AAA Report for Saskatoon
 S&Plobal Ratings Research Update January 2018 AAA Report for Saskatoon 

Update August 26, 2019: The City’s mid-year ‘AAA/Stable credit rating affirmation August 26, 2019, comes as a result of S&P Global Ratings publishing updated methodology on July 15, 2019, for assigning ratings to local and regional governments outside of the United States. The mid-year ‘AAA’/Stable rating for the City was reissued based on a cursory review using the new criteria as well as the most current information as of the date of S&P's reissued report. 

 S&P Global Ratings Report August 26, 2019 “City of Saskatoon Ratings Affirmed at ‘AAA’; Outlook Remains Stable