Financial Performance & Credit Rating
UPDATE: January 18, 2022: S&P Global (S & P) has reconfirmed the City of Saskatoon’s credit rating as the highest rating possible, a ‘AAA’ credit rating with a “stable” outlook. The City has maintained the ‘AAA’/Stable credit rating for twenty years since S&P first began affirming the City’s credit ratings in 2002.
Noting Saskatoon’s diverse economy and observing the City’s “strong operating surpluses and prudent financial management,” the January 18, 2022 release of S&P Global Ratings summary analysis report reaffirmed ‘AAA’ long-term issuer credit and senior unsecured debt ratings on the City with an outlook that is “stable”.
Having been affirmed with a “AAA”/Stable Outlook credit rating allows the City to borrow at the lowest possible interest rates as the City is seen as an organization that has an extremely strong capacity to meet financial commitments.
News Release January 18, 2022: City awarded 20th consecutive 'AAA/Stable credit rating from S&P Global
Receiving the 'AAA'/Stable 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.
Previous S&P Global Ratings Report Updates
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