Summary: City of Regina

Economy and institutions remain broadly supportive. High income levels and a large and stable public sector foster stability in the city's property tax base despite the negative impact from COVID-19. Refinement in the city's long-term financial management practices will allow Regina to keep adhering to sustainable infrastructure spending plans that avoid the undue build-up of deferred capital needs. Very predictable and well-balanced local and regional government framework supports the ratings. Superior budgetary performance will help to mitigate need for additional debt. We expect that after-capital balances will remain in a surplus position despite the city's large capital spending program. Very modest new debt issuance coupled with operating revenue growth and scheduled debt repayments will result in the debt burden declining

...Credit context and assumptions Base-case expectations Economy and institutions remain broadly supportive. + High income levels and a large and stable public sector foster stability in the city's property tax base despite the negative impact from COVID-19. + Refinement in the city's long-term financial management practices will allow Regina to keep adhering to sustainable infrastructure spending plans that avoid the undue build-up of deferred capital needs. + Very predictable and well-balanced local and regional government framework supports the ratings. Superior budgetary performance will help to mitigate need for additional debt. + We expect that after-capital balances will remain in a surplus position despite the city's large capital spending program. + Very modest new debt issuance coupled with operating revenue growth and scheduled debt repayments will result in the debt burden declining to about 39% of operating revenues by 2022. + We expect liquidity will remain a key credit strength....

Summary