Very strong operating and after-capital balances in the long term Modest debt burden Solid performance by the local economy in 2005 and 2006 Robust cash and investment holdings Debt likely to increase significantly in the 2009-2011 period The ratings on the City of Regina, in the Province of Saskatchewan (AA/Stable/A-1+), reflect the city's very strong operating and after-capital performances, solid economic performance in 2005, modest debt burden, and robust cash and investment holdings. These strengths are partially offset by the prospect of a significant increase in debt outstanding and debt burden in the 2009-2011 period. Very strong, long-term operating and after-capital balances are the foundation of Regina's considerable financial strength. From 2000 to 2005, the city generated operating surpluses that
