Once again, Saskatchewan’s Aaa credit rating is being confirmed by Moody’s Investors Service.
The province’s multi-year fiscal planning was commended in the confirmation.
“Saskatchewan’s Aaa rating benefits from very strong debt affordability… Saskatchewan’s fiscal planning is supported by comprehensive and transparent financial reporting,” Moody’s stated in its credit opinion update.
The province faced some tough decisions this year, including a PST hike and cutting funding to public libraries (which has since been reversed).
“Some difficult choices had to be made this year as part of our three-year plan to get back to balance, but these decisions were necessary to keep our finances and our province strong,” says Finance Minister Donna Harpauer.
Saskatchewan and British Columbia are the only provinces with a Aaa credit rating. British Columbia has the highest rating, with Saskatchewan falling into second place when the ratings of Moody’s, Standard and Poor’s and DBRS are considered
The first Aaa rating for the province from Moody’s was received in 2014.