Saskatchewan's credit rating given highest level possible
Only province to have its credit rating increased
First Posted: May 25, 2011 11:20am
Saskatchewan continues to show it's economic strength. For the first time ever, the province's credit rating has been listed as AAA, the highest level possible. Finance Minister Ken Krawetz says it's mainly for a few reasons. "In lieu of our debt repayment, our projected budgetary expenditures and surpluses." While the government won't be borrowing any money yet, as they are in a surplus scenario, Krawetz says this will help crown corporations. "They are facing an infrastructure deficit and will be continuing to meet the challenges that our equipment and capital infrastructure is replaced. They will be doing some borrowing." Now the challenge according to Krawetz is to keep the rating. "Look at tax reductions, you look at debt repayment, all of those factors are needed and at the same time you have to have a growing province." Saskatchewan was the only province to have their credit rating increased this year. Alberta already has a AAA rating. Edited by News Talk Radio's Sabeen Ahmad.