Government of Yukon


FOR RELEASE
October 2, 2017

Yukon receives 'AA' credit rating from Standard and Poor’s

Standard and Poor’s (S&P) has once again delivered a ‘AA’ credit rating as part of its annual review of Yukon’s fiscal health and capacity to handle debt.

While the 2017–18 Main Estimates indicate that the Government of Yukon held $93.4 million in net financial assets at the start of the fiscal year, this figure is expected to decline to $9.5 million by March 31, 2018.

A Financial Advisory Panel has been tasked with exploring options to return Yukon to a healthy financial position as the government plans for a sustainable future.

In assigning its ratings, Standard and Poor’s considers private sector economic performance, demographic trends and government finances.

As in previous years, strengths highlighted in the report for Yukon include good financial management, low debt levels and strong liquidity.

Quotes

“The affirmation of Yukon’s ‘AA’ rating is important and encouraging. We look forward to considering the options being developed by the independent Financial Advisory Panel as we work to put Yukon on a better path to a healthier financial future.”

–Premier and Minister of Finance Sandy Silver

Quick facts

  • Yukon has maintained a ‘AA’ credit rating for eight consecutive years.
  • Yukon has the second highest credit rating in the country, tied with Saskatchewan.

Learn more: Standard and Poor’s

Contact:

Sunny Patch
Cabinet Communications
867-393-7478
sunny.patch@gov.yk.ca

Eric Clement
Communications, Finance
867-393-6482
eric.clement@gov.yk.ca

News Release #17-203