The ratings on the City of Regina reflect the following: -- An extremely low debt burden; -- A strong liquidity position; and -- The local economy, which benefits from the city's status as the seat of the Saskatchewan legislature. These strengths are offset by potential capital budget obligations, which may weaken the city's debt profile. Regina's extremely modest debt burden is comprised of rate-supported utility obligations, which are considered somewhat more self-supporting than general municipal debenture issues. Regina's net debt burden (net of cash and investment balances) at year-end 2000, which includes utility obligations, stands at a modest C$15.00 on a per capita basis, and its ratio of net debt to market value of taxable assessment is 0.1%, which is
