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 an 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 sound financial results, generating, on average, after-capital surpluses while maintaining a low debt burden of approximately 30 per cent of operating revenues and a robust liquidity position,” S&P Global Ratings stated in the report.

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

“The reaffirmation of the City’s AA+ credit rating with a stable outlook indicates that the City’s financial position remains strong,” said Greaves. 

“Over the past year, Council has taken steps to strengthen the City’s overall financial management framework, including moving to multi-year capital budgeting, advancing the asset management plan, and developing a long-range financial plan. These initiatives represent important progress in how we plan for and manage the City’s finances over the long term.” 

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

 

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Contact:  Keri Greaves – Commissioner - Corporate Services and City Treasurer, 807-625-2645, keri.greaves@thunderbay.ca