Winnipeg, MB - The major credit rating agency Standard & Poor's has issued their annual review of the City of Winnipeg's financial state, and has confirmed a stable outlook, maintaining an AA credit rating.
“This rating is further proof that the City of Winnipeg is on the right track, with a disciplined approach to financial planning," said Mayor Sam Katz. "Our strong, stable financial situation allows us to obtain low, long-term interest rates that will help increase our spending on roads in 2014 by 173 percent over what we did in 2012.”
In their report, Standard & Poor’s noted the positive impact of the City's sound financial management practices. The agency also pointed out that the City provides transparent, easy-to-access information about the Operating and Capital Budgets.
"This independent review confirms that the City of Winnipeg is on a solid footing, with a balanced, responsible financial plan that allows us to invest in citizens’ priorities," said Councillor Russ Wyatt, Chair of the Standing Policy Committee on Finance.
Since 2006, Standard & Poor's rating for the City of Winnipeg has remained consistent.