Very healthy operating and after capital expenditure surpluses Currently low debt and a net creditor position Good economic performance Expected rise in debt, and loss of net creditor position The ratings on the City of Regina, the capital of the Province of Saskatchewan (AA/Stable/A-1+), reflect the city's very healthy operating and after-capital expenditure surpluses, and its good economic performance. The ratings also reflect the city's low debt and net creditor position. However, Standard&Poor's Ratings Services expects 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 same period, the city's balance after-capital surpluses have annually
