THUNDER BAY -- The city's credit performance is receiving a high grade.
For the second straight year, Thunder Bay was given a AA credit rating score from S&P Global Ratings, the city announced on Thursday.
"This rating reflects our positive budgetary performance, effective cost controls and helps the city secure the best available interest rates for our debt financing requirements," city treasurer Linda Evans said in a statement.
A city news release said the credit score represents a stable outlook that reflects an expectation that the city will continue to have strong budgetary results that will maintain reserve funds and liquidity balances while decreasing its debt burden.
Last year the city's credit rating was improved from AA-.
"The positive outlook assigned by S&P is a clear indication we are heading in the right direction and managing our finances well," Mayor Keith Hobbs said.
