Sask. credit rating dropped to reflect low resource prices

Saskatchewan's credit rating has dropped fromAAA to AA+.

Standard and Poor's (S&P) Financial Serviceslowered the province's rating on Friday, reflecting the impact ofpersistently low natural resource prices namely inoil and potash prices.

But according to the provincial government, Saskatchewan continues to have the second highest credit rating among provinces.

"Despite continued negative GDP growth expected in 2016, in our view, the provincial economy is very strong," noted the S&P's report.

The reportprojected a real GDP growth of about 2.5 per cent in 2017.