For the fifth consecutive year Thunder Bay’s credit rating stays at AA stable.
The city’s treasurer Linda Evans says rating, provided by S&P Global, reflects prudent financial management practices and cost-containment efforts to mitigate the impact of the COVID-19 pandemic.
Thunder Bay actually improved it’s credit rating back in 2017, which at that time was at AA-.
“The rating will allow the Corporation to continue to secure the best available interest rates for future debt financing requirements,” added Evans.
The city expects to maintain overall sound financial results over the next two years including positive budgetary performance, low municipal debt burden and a robust liquidity position.
A summary of the report can be found here
