S&P Global Ratings is affirming the province’s “AA” credit rating and stable outlook in a report.
The report says the province’s stable outlook reflects our expectation that deterioration in Saskatchewan’s budgetary performance as a result of the pandemic will be temporary, with the province recording steady improvement in fiscal results over the next two years.”
With S&P’s rating, Saskatchewan maintains the second-highest credit rating in the country, when ratings from the three major agencies are considered. This includes Moody’s Investors Service Triple A rating, the recent AA(low) rating from the DBRS Morningstar, and S&P’s confirmed rating issued in its report Friday, June 19.
“S&P’s rating confirmation supports Saskatchewan’s strong fiscal foundation,” Finance Minister Donna Harpauer said in a release issued Monday morning. “The agency’s report also notes that while the effects and challenge of the pandemic are considerable, our province is in a position to move forward and recover. It is a pandemic deficit, not a structural deficit. We will continue to invest in the priorities of Saskatchewan people and develop a plan to return to balance, over time.”
