TORONTO (Standard&Poor's) Oct. 24, 2008--Standard&Poor's Ratings Services today said it affirmed its 'AA+' long-term issuer credit and senior unsecured debt ratings on the City of Regina, the capital of the Province of Saskatchewan (AA/Stable/A-1+). The outlook is stable. "The ratings on Regina reflect the city's very healthy operating and after-capital expenditure surpluses, and its good economic performance," said Standard&Poor's credit analyst Suleman Souleyman. "The ratings also reflect the city's low debt and net creditor position," Mr. Souleyman added. However, we expect debt to rise; Regina could also possibly lose its net creditor status, which constrains the rating. Regina's annual operating surpluses have held steady at about 17% of operating revenues since 2005. During the
