COTB Report Standard & Poor Global Ratings Reaffirms AA Credit Rating

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Thunder Bay City Hall
City Hall

THUNDER BAY – NEWS – S&P Global Ratings has reaffirmed the City of Thunder Bay’s credit rating of AA, with a stable outlook. “We are pleased the City has once again received this positive AA credit rating by S&P Global. This rating will allow the Corporation to continue to secure the best available interest rates for future debt financing requirements. The rating recognizes strong budget performances along with improved capital reserve balances which will assist with addressing infrastructure needs,” said Linda Evans, General Manager – Corporate Services & Long Term Care and City Treasurer.

Over the next two years the City is expected to continue generating positive operating results, maintain a low debt burden and mitigate any lingering effects of the COVID-19 pandemic.  These conditions, supported by prudent financial management practices, led S&P Global to reaffirm the rating for a sixth consecutive year.