Moody’s Affirms Saskatchewan's Aa1 Credit Rating

Released on July 14, 2022

Saskatchewan continues to maintain its high credit rating following the affirmation by Moody's Investors Service of its Aa1 rating.

"Our Government is pleased that Moody's has affirmed our rating," Deputy Premier and Finance Minister Donna Harpauer said. "Saskatchewan's financial outlook has improved significantly, as was highlighted in our year-end financials for 2021-22. Credit rating agencies recognize that we are in a good position."

Saskatchewan continues to have the second-highest credit rating among Canadian provinces when all three major rating agencies are considered.

Moody's noted that Saskatchewan has, "ongoing credit strengths including a strong institutional framework and strong debt and treasury management," and "unfettered access to a wide range of revenue measures."

Moody's release states that Aa1 rating and stable outlook reflect strong debt affordability and low refinancing risk, as well as relatively high levels of liquidity compared to provincial peers.

"Fiscally, we are moving in the right direction, and Saskatchewan's economy is back on track," Harpauer said.

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