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Province’s AA Credit Rating Affirmed by S&P Global Ratings

The S&P Global Ratings has affirmed Saskatchewan’s credit rating at AA with a stable outlook.

“S&P’s affirmation of our credit rating is encouraging and highlights the continued strength in our province,” Deputy Premier and Minister of Finance Donna Harpauer said. “Our government is committed to the residents of Saskatchewan by investing in areas that support our growing population, while remaining fiscally responsible and ensuring our province has a strong and sustainable fiscal future.”

In its release, S&P states: “We expect that a swelling population will buoy economic and revenue growth, and that the province will maintain its focus on controlling expenditures to sustain operating surpluses.”

The latest quarterly population estimate as of April 1, 2024, shows that Saskatchewan’s population continues to increase, with more than 30,500 additional residents calling Saskatchewan home in the last year. In addition, Saskatchewan’s 2023 real GDP reached an all-time high of $77.9 billion, placing our province second-highest among provinces for real GDP growth.

Saskatchewan is currently ranked the highest amongst all Canadian provinces by S&P and has the second-highest rating among the provinces when all three major credit rating agencies – Moody’s Ratings, S&P Global Ratings and Morningstar DBRS – are considered. Earlier this year, Moody’s affirmed Saskatchewan’s Aa1 rating.

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