Performance and Credit Rating

The City of Thunder Bay strives to be one of the "best-run cities in Canada". The City's performance is measured in a variety of ways.

Annual report

Each year, the City prepares an annual report that gives an update on the priorities identified in the Strategic Plan, and includes the annual financial statements. Previous year's financial statements are also available.

Credit rating

S&P Global Ratings has reaffirmed the City of Thunder Bay's credit rating of AA+ for 2023. Over the next two years the City is expected to continue to maintain a low debt burden and overall sound financial results. S&P Global recognizes the City's local economy as anchored by its large, stabilizing public sector. These conditions, supported by the City's exceptional liquidity position, led S&P Global to reaffirm the AA+ rating for the second year in a row following the rating improvement last June due to changes by S&P Global to the institutional framework assessment for Canadian municipalities.

BMA Municipal Study

The City of Thunder Bay participates in a municipal comparative study conducted by BMA Management Consulting Inc.

In 2022, 117 cities including Thunder Bay took part in a study done by BMA Management Consulting Inc. that compared financial information, user fees, tax policies and rates, sewer and water services, and taxes as a percentage of income.