Calgary is one of Canada’s fastest growing cities and we’re committed to providing greater value to Calgarians by reducing costs. One way we can do this is by securing lower interest rates for future capital projects. This is achieved by adding the option to fund capital projects with Municipal Bonds.
The City anticipates it could issue its first Municipal Bond by early 2024. It is estimated that over the next 10 years, up to $175 million in interest costs could be avoided with this amount increasing each year based on expected borrowing and market conditions. This innovation will help keep Calgary affordable and enable additional investments in capital infrastructure for Calgarians, local businesses and the community.
Our strong fiscal management and superb credit ratings
We continue to have one of the best municipal credit ratings in Canada. Our strong fiscal management and superb credit ratings make our debentures an attractive investment in both domestic and international markets.
The City uses the rating services of S&P Global Ratings and DBRS Limited as additional sources of performance measurement and accountability by presenting our numbers for review by credible third parties. The City’s Annual Financial Reports provide a comprehensive view of the consolidated financial statements in accordance with Canadian generally accepted accounting principles for local governments.
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