S&P Global Ratings reaffirms ‘AA Stable’ credit rating for 15th consecutive year

S&P Global Ratings (S&P) reaffirmed the Yukon has an “AA Stable” credit rating for 2024 today, while maintaining a stable outlook for the territory.

When assigning ratings to provinces and territories, S&P considers population growth, economic performance and government finances. In its report, the agency highlighted the Yukon’s continued positive economic outlook over the next few years, in addition to a growing population and the recovery of the tourism sector.

Additionally, S&P noted the Yukon shows a continued trend of strong financial management practices and a close, predictable relationship with the Government of Canada. This relationship provides direct support for funding capital projects. S&P expects that the Yukon will maintain and even improve its robust fiscal performance over the next two years as federal transfers increase and capital spending becomes more moderate. S&P also expects the territory’s debt will stay low compared to other jurisdictions in Canada.

This independent assessment demonstrates that, through a foundation of stable funding from the federal government, the Government of Yukon can make continued investments in health care, education, housing and infrastructure, as outlined in the government’s Fiscal and Economic Outlook.