Friday, May 14, 2010
City of Calgary receives positive ratings from international credit agencies
Every year, The City of Calgary is reviewed by two internationally recognized credit agencies, Standard & Poor’s and Dominion Bond Rating Service (DBRS).
This year, as has been the case in past years, The City of Calgary received very strong credit ratings – DBRS ranks The City of Calgary as an AA (high) with a stable outlook and Standard & Poor’s ranked The City as AA+ also with a stable outlook. These are among the highest ratings for municipalities across the country and serve as a good indication that the City’s financial position is strong.
The City of Calgary’s Chief Financial Officer, Eric Sawyer, says that these positive credit ratings mean that The City is well positioned to continue to deliver the services that Calgarians rely on every day, despite increased demand for these services.