The City's positive credit ratings are reaffirmed by globally recognized rating agencies S&P and DBRS Limited

CALGARY, AB – The City of Calgary is pleased to announce that global recognized rating agencies S&P Global Ratings (S&P) and DBRS Limited have reaffirmed our positive credit ratings.

S&P reaffirmed The City of Calgary’s AA+ Issuer credit rating. While DBRS Limited affirmed our Issuer Rating and Long-Term Debt rating of AA (high), and the Commercial Paper rating at R-1 (high), with stable trends.

Administration uses the rating services of S&P and DBRS Limited as additional sources of performance measurement and accountability by presenting our numbers for review by credible third parties. The 2023 published reports speak to The City’s management accountability, strong financial management practices, low debt burden and liquidity position.

The report released by DBRS states, “The ratings are supported by The City’s approach to fiscal management, its relatively low debt burden and its robust liquidity.”

After reviewing the reports, Les Tochor, Acting Chief Financial Officer, said “The City’s continued positive credit ratings and independent third-party outlooks save Calgarians money by helping reduce borrowing costs for The City. The positive credit ratings are an achievement made possible through careful decision making and dedication of all City staff.”