Wotherspoon asks for answers on impact of credit rating downgrade

Today, Official Opposition Finance Critic Trent Wotherspoon wrote a letter to the Finance Minister demanding answers on the potential future costs facing Saskatchewan as a result of the latest downgrade of the province’s credit rating by Moody’s.

“We’ve lost our AAA credit rating as a result of the Sask. Party’s mismanagement of our finances over the last decade, and now Saskatchewan people will be forced to pay the price,” said Wotherspoon. “The Sask. Party needs to tell the people of our province how much their record of mismanaged projects, corrupt deals and outsourcing jobs is going to cost, and how the Sask. Party plans on making people pay - whether through cuts to services, sale of Crown corporations or public assets, tax increases, or even more debt and deficits.”

On May 21, 2021, the ratings agency Moody’s downgraded Saskatchewan’s credit rating from Aaa to Aa1. Moody’s is the latest agency to downgrade Saskatchewan’s credit rating, following downgrades by DBRS in 2020, and Standard and Poor’s in 2016 and 2017.

“People deserve answers when it comes to our public finances, and the Sask. Party should be straight with Saskatchewan people when it comes to the cost of accessing capital going forward, and the cost of servicing the record amount of debt this government has racked up over the last 14 years.”

Please see the attached link to Trent Wotherspoon’s letter to the Finance Minister.

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