S&P Global Ratings has reaffirmed the City of Thunder Bay’s credit rating of AA+. 

S&P Global Ratings, an international credit rating agency, has given the City a AA+ rating for the fourth consecutive year.

“The stable outlook reflects S&P Global Ratings' expectation that, in the next two years, Thunder Bay will maintain overall sound financial results, generating near-balanced after-capital results on average, supported by prudent financial management practices and despite near-term inflationary challenges and elevated capital spending,” S&P Global Ratings stated in a news release.

“We also expect the city will sustain a low debt burden and a robust liquidity position.”

Keri Greaves, Commissioner of Corporate Services and City Treasurer, stated the credit rating shows the City is in solid financial shape.

“We view the reaffirmation of the City’s AA+ credit rating with a stable outlook as validation that the City’s financial position remains sound, especially considering current global economic uncertainties,” said Greaves.

“The report recognizes the City’s disciplined budgeting, sound financial practices, and the successful execution of our strategic and fiscal plans.”

City Manager John Collin noted, “This rating reflects the City’s strong financial stewardship, Council’s continued support, and our capacity to foster sustainable growth."

For more information, and the summary report, visit: www.thunderbay.ca/CreditRating