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THIRD CREDIT RATING UPGRADE SINCE MARCH BUDGET

Released on August 14, 2000

Finance Minister Eric Cline today announced Saskatchewan has received its third

credit rating upgrade since the March, 2000 Budget.



On August 14, Standard & Poor's upgraded Saskatchewan from A to A+. This comes

on the heels of an August 9 upgrade from Moody's Investors Service and a May

upgrade from Dominion Bond Rating Service.



In announcing the upgrade, Standard and Poor's noted the Government's "ongoing

commitment to fiscal balance and public sector debt reduction." The agency

also pointed to the province's commitment "to meeting its targets of small

budgetary surpluses . . ."



Cline noted all three independent agencies have expressed a vote of confidence

in the March 2000 Budget, and the merits of the government's balanced approach.



"Three upgrades on one budget is certainly noteworthy and it's good news for

Saskatchewan people. It confirms we are addressing peoples' priorities in a

responsible manner and have the ability to continue the program enhancements

and tax reductions people want. It reflects well on this year's budget, and

also augurs well for future budgets."



This represents the ninth upgrade for Saskatchewan since 1995. The province is

currently rated as follows:



CBRS: A+, upgraded from A in 1999;



Standard & Poor's: A+, upgraded from A in 2000, from A- in 1997 and from

BBB+ in 1996;



Dominion Bond Rating Service: A, upgraded from A (low) in 2000, from BBB

(high) in 1997, and from BBB in 1995;



Moody's Investors Service: A1, upgraded from A2 in 2000 and from A3 in

1998; and,



Fitch IBC: A+, a new rating in 1998.



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For further information, contact:



Roy Schneider

Saskatchewan Finance

Regina

Phone: (306) 787-8109

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