S&P Global Ratings (S&P) reaffirmed the Yukon has an “AA Stable” credit rating for 2024 today, while maintaining a stable outlook for the territory.
When assigning ratings to provinces and territories, S&P considers population growth, economic performance and government finances. In its report, the agency highlighted the Yukon’s continued positive economic outlook over the next few years, in addition to a growing population and the recovery of the tourism sector.
Additionally, S&P noted the Yukon shows a continued trend of strong financial management practices and a close, predictable relationship with the Government of Canada. This relationship provides direct support for funding capital projects. S&P expects that the Yukon will maintain and even improve its robust fiscal performance over the next two years as federal transfers increase and capital spending becomes more moderate. S&P also expects the territory’s debt will stay low compared to other jurisdictions in Canada.
This independent assessment demonstrates that, through a foundation of stable funding from the federal government, the Government of Yukon can make continued investments in health care, education, housing and infrastructure, as outlined in the government’s Fiscal and Economic Outlook.
I am happy to see that the Yukon has maintained its AA Stable credit rating for yet another year. To keep moving forward on our plans to invest in the Yukon’s infrastructure, health care, renewable energy and other areas that benefit Yukoners, we need a strong fiscal foundation. The 2024 credit report from S&P Global Ratings shows we are well-placed to build a better future for the Yukon and through sound management of the territory’s finances.
The Yukon’s AA Stable credit rating is a testament to our government’s financial management and a key indicator that the Government of Yukon remains on a path towards continued sustainable finances. With one of the strongest ratings among all of Canada’s provinces and territories, the Yukon is in an excellent position to build a sustainable future for all Yukoners.
-
S&P Global Ratings est une agence d’évaluation du crédit de premier plan qui publie des recherches dans le domaine de la finance, des analyses et des cotes de crédit à l’échelle mondiale.
-
S&P a également maintenu la cote AA des titres de créance de premier rang non garantis de la Société de développement du Yukon.
-
L’année 2024 est la 15ᵉ année consécutive où S&P attribue la cote de crédit AA au Yukon.
-
Une cote de crédit peut être attribuée à un organisme, une province ou un territoire. Elle montre la capacité d’un emprunteur à rembourser les prêts en général ou une dette en particulier.
-
Le rapport a été publié le lundi 15 juillet 2024.
Laura Seeley
Cabinet Communications
867-332-7627
Laura.Seeley@yukon.ca
Eric Clement
Communications, Finance
867-393-6482
eric.clement@yukon.ca