The Province of Saskatchewan (the Province; rated AA (low) with a Stable trend by DBRS Morningstar) presented its 2023–24 budget on March 22, 2023. Prudent fiscal management and a recovery in resource revenues have resulted in a swift return to balance and a quickly declining debt-to- GDP ratio. Because of the recent turnaround in its fiscal trajectory, the Province is well-positioned to withstand a deteriorating macroeconomic backdrop and potential commodity price volatility without materially ...
Most provinces have experienced a dramatic fiscal turnaround and appear well-positioned to outperform budget targets for 2022–23; however, these trends are unlikely to be sustained as the economic outlook becomes increasingly clouded. Notwithstanding these headwinds, the majority of DBRS Morningstar's provincial ratings currently have Stable trends as strong fiscal performance has contributed to financial flexibility at the current ratings.
The Province of Saskatchewan released its 2022–23 provincial budget on March 23, 2022. This budget suggests a stronger-than-expected recovery reflecting the Province’s expectations of ongoing economic momentum, higher average resource prices, and strict spending control in the near term. Key investment priorities remain focused on healthcare, education, social assistance, economic recovery, and public safety.
On July 19, 2021, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and both the Long-Term Debt and Short- Term Debt ratings of the Province of Saskatchewan (Saskatchewan or the Province) at AA (low), AA (low), and R-1 (middle), respectively. All trends are Stable.
The Province of Saskatchewan (Saskatchewan or the Province; rated AA (low) with a Stable trend by DBRS Morningstar) released its 2021 budget on April 6, 2021. This budget marks a departure from the Saskatchewan Party's pre-election plan presented in August 2020 and now entails a longer path to balance and a somewhat increased debt burden.
On August 27, 2020, the Province of Saskatchewan (Saskatchewan or the Province) released its first quarter fiscal update along with medium-term budget projections showing the Province will not balance its budget until the mid-2020s. The release comes ahead of Saskatchewan's fall election, legislated for October 26, 2020.
On June 18, 2020, DBRS Limited (DBRS Morningstar) downgraded the Issuer Rating and the Long-Term Debt and Short-Term Debt ratings of the Province of Saskatchewan (Saskatchewan or the Province) to AA (low), AA (low), and R-1 (middle) from AA, AA, and R-1 (high), respectively. DBRS Morningstar also downgraded the ratings of Saskatchewan Power Corporation’s Long-Term Obligations and Short-Term Obligations to AA (low) and R-1 (middle), respectively (for more information, see the Saskatchewan Power...
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