AA+ credit rating

The City of Regina continues to have a “AA+” credit rating with a stable outlook from Standard & Poor’s Rating Service.

In announcing the City of Regina’s credit rating on October 24th, 2008, Standard & Poor’s said the rating is based on the City’s “very healthy operating and after-capital expenditure surpluses, and its good economic performance. The rating also reflects the City’s low debt and net creditor position.” The report also highlights the City is facing an infrastructure deficit, currently estimated at $1.6 billion, which includes the cost of revitalizing existing infrastructure and the need for new infrastructure. Standard & Poor’s stable outlook for the City shows continued confidence in the positive economic fundamentals shown in the 2007 fiscal year.

“The City of Regina has had a AA+ bond rating since 1989, the first time that a credit rating was completed,” said Brent Sjoberg, the City’s General Manager of Corporate Services. “A good credit rating confirms the City’s continued focus on strong fiscal management, minimizes future borrowing costs and increases the marketability of the City’s debenture debt.”

For more information on Standard & Poor’s report visit www.standardandpoors.com .