Winnipeg, MB - The major credit rating agency Standard and Poor's has issued their annual review of the City of Winnipeg's financial state, confirming a stable financial outlook, and maintaining the City’s AA credit rating.
“As a Council, we will be working hard to balance citizens’ needs while recognizing the economic realities we face as a Council,” said Councillor Marty Morantz, Chair of Finance. “This positive review of the City’s strong financial foundation is going to help us as we move forward with a tough budget process for 2015.”
In their report, Standard and Poor’s stated, “In part, the ratings reflect our assessment of the city's very strong economic performance, exceptional liquidity position, and strong financial management, which a moderate debt burden and average budgetary performance offset.” The Agency further noted that, “Winnipeg demonstrates strong financial management, which has a positive impact on its credit profile.”
Standard and Poor's credit rating for the City of Winnipeg has remained consistent since 2006