Sault Ste. Marie’s credit rating has been upgraded by S and P Global.
Our City has been upgraded from Double A minus to Double A.
Areas of financial strength highlighted in a report to council for tonight’s (Monday) meeting explains our City is in a healthy cash position with very low debt as well as a robust liquidity position.
This allows our City to advance its capital program while maintaining a very low debt burden through 2021.
The report further states that these strengths are offset by our City’s challenging demographic profile that limits the Sault’s growth prospects.
A positive to this challenge, is a rural and northern immigration pilot the Sault will be apart of.