We expect that stable population growth and related economic expansion will support Regina's robust budgetary performance and allow the city to internally finance its capital program over the next several years, keeping the debt burden manageable. We are affirming our 'AA+' long-term issuer credit and senior unsecured debt ratings on the City of Regina. The stable outlook reflects our expectations that Regina's economy will prove largely resilient to the impact of weak commodity prices such that its budgetary performance remains solid and the tax-supported debt burden will remain less than 60% of consolidated operating revenues. On May 24, 2017, S&P Global Ratings affirmed its 'AA+' long-term issuer credit and senior unsecured debt ratings on the City of Regina, in the
