Saskatchewan received an upgrade to its credit rating by Standard and Poor's to AAA, the highest level possible, and a first in the province's history.

 

Finance Minister and Deputy Premier Ken Krawetz, says this upgrade confirms that the province is on the right track financially, with lower debt and a healthy fiscal position.

 

 

Krawetz adds with the AAA rating, borrowing costs will be lower as they will have a greater interest from lenders and interest rates will be lower, and he also believes the rating will bring in more investment to the province.

 

As for what it means for taxpayers, Krawetz says the lower cost of borrowing should not lead to any sudden tax changes.