The City of Thunder Bay has received an AA+ credit rating from S&P Global Ratings for the fourth year in a row.

The solid credit rating means Thunder Bay is deemed trustworthy by lending institutions.

An S&P report states that Thunder Bay is expected to maintain “sound financial results” over the next two years.

Thunder Bay’s Commissioner of Corporate Services and City Treasurer, Keri Greaves, says the reaffirmed credit rating proves that Thunder Bay has solid finances.

“Over the past year, Council has taken steps to strengthen the city’s overall financial management framework, including moving to multi-year capital budgeting, advancing the asset management plan, and developing a long-range financial plan,” he says. “These initiatives represent important progress in how we plan for and manage the city’s finances over the long term.”

More information on city finances can be found on the City of Thunder Bay website.