THUNDER BAY – “The Thunder Bay Chamber of Commerce is pleased to see this positive indicator of the City’s financial performance. We congratulate City Council and Administration for their efforts to improve the credit rating,” says Charla Robinson, Chamber President. The Thunder Bay Chamber of Commerce is congratulating Thunder Bay City Council and Administration on the upgrade of the City’s credit rating from A+ to AA-.
The Standard & Poor’s report points to the City’s robust liquidity, healthy budgetary performance and moderate debt. However, the report also indicates that Thunder Bay’s limited ability to cut expenditures somewhat constrains its budgetary flexibility.
Standard & Poors Ranking Helps City
“The Chamber sees budgetary flexibility as an essential tool in addressing the many challenges and opportunities facing our community”.
“We applaud the cost cutting efforts that have been made to date and continue to offer our assistance to Council and Administration to further reduce expenditures and improve organizational efficiency. We further encourage City Council to place a stronger emphasis on the Core Service Review and City Lean initiatives to achieve these efficiencies,” concludes Robinson.