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Article: CANADA: MOODY'S UPGRADES CITY OF WINNIPEG'S RATING TO AA2 FROM AA3.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- October 19, 2003
CopyrightCOPYRIGHT 2003 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Investors Service upgraded today the debt rating of the City of Winnipeg to Aa2 from Aa3. The upgrade was prompted by recent improvements to the City's debt profile, owing to prudent fiscal planning and strong financial results. The Aa2 rating also takes into account continued economic and assessment base growth, which enhance the city's financial framework. The rating outlook is stable. Winnipeg's financial profile has improved over the past five years, reflecting increased fiscal discipline and the effective management of cost pressures. The city has realized consecutive consolidated budgetary surpluses since the 1997, allowing reserves to increase from ...
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