Calgary, City of: Rating Report
Sub-Sovereign GovernmentsSummary
DBRS Limited (DBRS) confirmed the Issuer Rating and Long-Term Debt rating of the City of Calgary (Calgary or the City) at AA (high) and its Commercial Paper (CP) rating at R-1 (high); all trends are Stable. The ratings are supported by the City’s relatively low DBRS-adjusted tax-supported debt burden, very strong liquidity and reserve levels and a disciplined and responsive fiscal management framework. The City’s economic performance has improved as world oil prices have firmed following the recent recession in the Province of Alberta (the Province; rated AA with a Negative trend by DBRS). The population continues to grow and key revenue streams remain resilient.
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