City Maintains Aa2 (Stable) Credit Rating
Winnipeg, MB – Moody’s has recently affirmed Winnipeg’s Aa2 (Stable) credit rating based on disciplined fiscal planning, a diverse economy, and a strong governance and management structure.
“Our city’s stable credit rating is a reflection of our ongoing commitment to fiscal prudence as well as the steady economic growth projections for Winnipeg,” said Mayor Brian Bowman. “Winnipeg is growing and with over 50,000 people added to our population over the last 4 years, Winnipeg is projected to continue with strong population growth into the future. Winnipeg is a great place to live, work, and invest, and I’m confident Moody’s credit rating report will be well received by the investment community.”
“It’s encouraging to receive Moody’s affirmation in a challenging budget environment,” said Councillor Scott Gillingham, Chair of the Standing Policy Committee on Finance. “With significant capital projects in the forecasted capital plan, we need to continue to focus on managing our rising debt burden.”
In its research update, Moody’s noted that the City benefits from “disciplined fiscal planning and track record of operating surpluses, despite recent funding pressures, a diverse economy and access to stable and predictable own-source revenues.”
For more information, please see Moody’s research update pertaining to the credit opinion for the City of Winnipeg.