Sask.’s credit rating drops but remains stronger than other provinces
Standard and Poor’s (S&P) lowered Saskatchewan’s credit rating to AA+ from AAA on Friday.
S&P’s credit rating change reflects the impact of persistently low resource prices, in particular oil and potash.
In a news release, the government calls the news disappointing, but points out that Saskatchewan continues to have the second highest credit ratings among provinces.
The S&P’s report noted that “despite continued negative GDP growth expected in 2016, in our view, the provincial economy is very strong”.