News Releases

*This report includes road restrictions on Priority 1 (high traffic, high speed) streets only.

NEW

20TH ST W EB CURB LANE CLOSED FROM AVE Q S TO AVE P S
(Tree trimming)
Start: January 19, 9:00 a.m. End: January 19, 3:00 p.m.

ONGOING

BRIGHTON BLVD ROAD CLOSED FROM TASKAMANWA ST TO 8TH ST E
(Construction)
Use McOrmond Dr
Start: November 20, 2023, 7:00 a.m. End: November 18, 2024, 5:00 p.m.

All restrictions will be lifted as indicated, weather permitting and barring any unforeseen circumstances.

For more information about current road restrictions and construction, visit saskatoon.ca/construction.

*This report includes road restrictions on Priority 1 (high traffic, high speed) streets only.

NEW

20TH ST W WB CURB LANE CLOSED FROM AVE P S TO AVE R S
(Tree maintenance)
Start: January 18, 9:00 a.m. End: January 18, 5:00 p.m.

ONGOING

25TH ST E EB & WB MEDIAN LANES CLOSED FROM 4TH AVE N TO 5TH AVE N
(Emergency Water Repair)
Start: January 16, 9:00 a.m. End: January 18, 5:00 p.m.

BRIGHTON BLVD ROAD CLOSED FROM TASKAMANWA ST TO 8TH ST E
(Construction)
Use McOrmond Dr
Start: November 20, 2023, 7:00 a.m. End: November 18, 2024, 5:00 p.m.

All restrictions will be lifted as indicated, weather permitting and barring any unforeseen circumstances.

For more information about current road restrictions and construction, visit saskatoon.ca/construction.

*This report includes road restrictions on Priority 1 (high traffic, high speed) streets only.

NEW

No new projects are scheduled to start on this date.

ONGOING

BRIGHTON BLVD ROAD CLOSED FROM TASKAMANWA ST TO 8TH ST E
(Construction)
Use McOrmond Dr
Start: November 20, 2023, 7:00 a.m. End: November 18, 2024, 5:00 p.m.

All restrictions will be lifted as indicated, weather permitting and barring any unforeseen circumstances.

For more information about current road restrictions and construction, visit saskatoon.ca/construction.

*This report includes road restrictions on Priority 1 (high traffic, high speed) streets only.

NEW

MELVILLE ST WB LANES CLOSED FROM BRAND RD TO PORTAGE AVE
(Directional drilling)
Start: January 16, 7:00 a.m. End: January 16, 3:00 p.m.

ONGOING

BRIGHTON BLVD ROAD CLOSED FROM TASKAMANWA ST TO 8TH ST E
(Construction)
Use McOrmond Dr
Start: November 20, 2023, 7:00 a.m. End: November 18, 2024, 5:00 p.m.

All restrictions will be lifted as indicated, weather permitting and barring any unforeseen circumstances.

For more information about current road restrictions and construction, visit saskatoon.ca/construction.

S&P Global Ratings (S&P) has today reaffirmed the City of Saskatoon’s credit rating with the highest rating possible, a ‘AAA’ credit rating with a “Stable” outlook. The City has maintained the ‘AAA’/Stable credit rating for twenty-two years since S&P first began affirming the City’s credit rating in 2002.

“We take great pride in S&P endorsing the City’s 22^nd ‘AAA’/Stable credit rating - it reconfirms Saskatoon City Council and its Administration's ongoing commitment to fiscal responsibility and transparency," says Clae Hack, Chief Financial Officer.

S&P rates the City of Saskatoon’s institutional framework as “…extremely predictable and supportive…” and bases credit context on having “…effective financial management practices consistently support strong operating balances...”

“It’s an honour to receive the ‘AAA’/Stable credit rating endorsement” says Hack. “It validates that Saskatoon manages municipal finances responsibly, plans for the future appropriately and that we can sustainably deliver high-quality civic services and programs residents expect and rely on today and well into the future.”

S&P’s rationale and outlook contributing to the confirmation of the City’s strong credit rating within the January 15, 2024, S&P Global Ratings Direct® Report states:

• The City “will continue to benefit from a strong and diverse economy that supports budgetary performance, keeping debt issuance manageable and maintaining an exceptional level of liquidity.”
   
• “We expect Saskatoon's strong and stable economy, coupled with a growing population and upcoming tax adjustments, will result in healthy operating balances throughout the outlook horizon.”

• “Saskatoon's strong and prudent financial management is a key credit strength, in our view. The City's management team is experienced and qualified to effectively enact fiscal policies and navigate external risks. Good political consensus is demonstrated by a long track record of passing budgets before the start of the fiscal year with minimal variations from projected revenues and expenses.”

• “We view both management accountability and transparency to be strong, as reflected in ongoing disclosures and grounded assumptions, as well as prudent financial policies.”

• “The City consistently produces robust annual budget documents. It also prepares multi-year operating and capital budgets for upcoming years, alongside comprehensive long-term capital and borrowing plans. This underpins fiscal transparency and discipline, in our assessment.”

S&P Global does note the significance of Saskatoon’s upcoming capital plan in 2024-2026 including key projects such as the City’s Bus Rapid Transit, expansion to the City’s Water Treatment Plant and investment in Land Development that could impact the City’s after-capital balances, one of many metrics used to evaluate a municipalities credit score.

“The City’s capital plan for 2024-2026 includes significant projects that will support the needs of a growing city” adds Hack. “We are confident our financial plans to deliver these projects are robust and utilize the City’s reserves, debt and government funding in a fiscally responsible manner.”

Credit ratings are one of several tools that investors and lenders use when making decisions regarding an organization’s future financial strengths and weaknesses. For the City of Saskatoon, the ‘AAA’/Stable rating serves as an indication of the City’s credit risk and ability to meet its financial obligations in full, and on time.

View reports on the City of Saskatoon’s financial performance and credit rating history at saskatoon.ca.