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S&P reaffirms Vancouver credit rating, not worried about fall election

FILE - Vancouver City Hall (Lasia Kretzel, NEWS 1130 Photo)

Standard & Poor's cites City of Vancouver's 'steady economic growth and detailed financial planning'

VANCOUVER (NEWS 1130) – The City of Vancouver’s credit rating is expected to stay at the highest level, AAA, even after the November election of a new mayor and several new councillors according to Standard & Poor’s.

It cites the city’s “steady economic growth and detailed financial plannning.”

In reaffirming the city’s rating, S&P says it expects Vancouver’s “adherence to robust fiscal management to continue through the change in government set to take place in late 2018.”

It also says the city has a “large liquidity cushion and shrinking debt burden.”

The agency says its best-case scenario “assumes that continued economic expansion and comprehensive fiscal planning will facilitate strong operating and after-capital fiscal surpluses over the next two years.”