Saskatchewan's AA (Low) Credit Rating Affirmed by Morningstar DBRS
CANADA, July 18 - Released on July 18, 2024
In its recent release, Morningstar DBRS affirms the province's AA (low) credit rating and stable outlook.
Saskatchewan currently has the second-highest credit rating among the provinces when all three major rating agencies (Moody's, Morningstar DBRS, and S&P) are considered. In June 2024, S&P Global Ratings gave Saskatchewan the highest credit rating among Canadian provinces.
"Saskatchewan's economy is stable, and our province remains one of the most affordable places in the nation to invest, live, work and raise a family," Deputy Premier and Minister of Finance Donna Harpauer said. "The Morningstar DBRS report and affirmation is encouraging and speaks to our strengths."
Statistics Canada's latest GDP numbers indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion, or 1.6 per cent. This places Saskatchewan second in the nation for real GDP growth, above the national average of 1.2 per cent.
In June 2024, Saskatchewan's Consumer Price Index (CPI) increased by 1.4 per cent compared to June 2023. This is tied with Manitoba for the lowest increase among the provinces.
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