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

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. 

“It is good to see S&P Global reaffirm the City’s AA+ positive rating.  The report references strengths like sound financial management practices and the ability to implement the strategic plan and budget.  This tells us that financially the Corporation is on the right track.” said Emma Westover, Acting General Manager-Corporate Services & Long Term Care and City Treasurer. City Manager Norm Gale adds “The rating reflects strong financial stewardship and support by City Council.”

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

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Contact:  Emma Westover, General Manager – Corporate Services & Long Term Care and City Treasurer (Acting), emma.westover@thunderbay.ca