Latest news with #AndreChabot
Calgary Herald
16-07-2025
- Business
- Calgary Herald
Varcoe: City of Calgary maintains high credit rating as debt grows from big-ticket projects
Article content Let's give some credit where credit is due. Article content In this case, credit rating agency Morningstar DBRS gave the city its due in the past week, reaffirming the City of Calgary's long-term debt credit rating at AA (high). Article content Article content More significantly, the stable rating arrives as the civic government wrestles with some large projects — and larger spending commitments — on the horizon. Article content Article content Think about downtown revitalization, construction of a new arena, plans to upgrade key water infrastructure and the Green Line LRT, the largest transit project in Calgary's history. Article content Article content 'We do see the numbers go up significantly, and a lot of it has to do with how much we've taken on,' said Coun. Andre Chabot. Article content 'The fortunate thing is that we have the ability to service all of that debt . . . I don't think it's going to affect our credit rating, but it does limit our ability to be nimble in regards to some of the future needs.' In 2025, DBRS estimates adjusted taxpayer-supported debt will be $523 per person, 'low compared with rated (city) peers.' Article content That figure is projected to climb to about $952 by the end of the decade, up 82 per cent from 2025 levels, it said. Article content 'Based on the most recent debt forecast, Morningstar DBRS expects the increase in debt over the forecast horizon to be manageable,' states the credit rating agency's report. Article content Article content In an interview, Morningstar DBRS assistant vice-president Apurva Khandeparker said the city's economy continues to grow, although at a slower pace this year because of trade uncertainty and as the population boom decelerates due to federal immigration policy changes. Article content However, the city's energy sector remains relatively stable, production is rising and more oil export capacity is available through the Trans Mountain pipeline. The expansion of the local tech sector is also helping to diversify the local economy. Article content A recent Conference Board of Canada report forecast Calgary's economy will expand by 1.8 per cent in 2025, second highest among large Canadian cities. Article content 'Calgary has been one of the most stable and financially stronger municipal credits that we rate. So our ratings mostly reflect its historically sound fiscal management practises, the strong liquidity the city has and the currently low debt burden,' Khandeparker said, noting the city has maintained a AA rating for many years.
CTV News
10-07-2025
- Entertainment
- CTV News
From pancakes to pakoras: Stampede breakfast goes international in Forest Lawn
Pancakes are notorious fixture at Stampede breakfasts in Calgary, but an annual event in Forest Lawn flips the menu to celebrate the neighborhood's diverse community. The 25th Best of the East Stampede Breakfast took place at Unity Park (3111 17 Ave. S.E.) on Thursday. Hosted in part by the International Avenue Merchants, the event steps outside the traditional Stampede breakfast to offer dishes from a multitude of cultures. 'We're not just pancakes; we're kind of everything else,' said Alison Karim-McSwiney, executive director of the International Avenue BRZ. 'Because we're a little village, we wanted people to experience what makes it unique, so we had to put our own spin on it – and of course had to have food, so that's how it all came about.' The diverse breakfast offerings include East Indian from Brar, Mexican from Taco Libre, Filipino food from Pacific Hut and Ethiopian from TG Juice. 'People get to know more about our Indian culture because these are Indian sweets and Indian food, so they'll get to see how it tastes,' said Gurwinder Kaur with Brar. 'People from different religions get to learn about other cultures and their food, so I think it's a really good idea.' Warn 10 Coun. Andre Chabot, who grew up in Forest Lawn, was in attendance and even helped lead the crowd in a cheer of 'yahoo.' 'I think it's important to highlight the diversity our city, and the value each community brings, each ethnicity and different types of food and activities they offer, and I think it's a great showcase of that,' he said. Calgary Police Service officers were also on hand to help serve up food. 'For the community that was served, to be able to see them on a good day and share in a celebration like this…. and an event that brings everyone together,' said Sgt. Kevin Collier. 'I really like it every year, and with the police helping, I really like that,' said Hong Phan who travelled from the northwest community of Scenic Acres. 'Excellent. Very different from the other places – and I'm here with my friends, and really happy today.' The event also includes local businesses, exhibits, music and performances from a number of different cultures. 'It's delightful, just delightful,' said Cindy Wilbur, who came to the event for the first time. 'We do have many, many cultures and backgrounds representing different cultures and countries, and I think that should be showcased.' 'It's just such a great environment and I love all the different cultural things going on this year,' said Sarah Goddard, who returned for the second time this year with her two children. 'I didn't know there was so much music and dancing going on, so that was just an extra bonus – and the food is delicious,' The event attracts 4,000 to 5,000 people every year, and despite a little wind and rain, it still drew a lineup around the block on Thursday. A lot of people from all over the globe live in Forest Lawn, and along this strip of road,' said Cam Motta, who lives three blocks away. 'It's pretty great,' said Christian Clarke attending the breakfast for the first time with his young daughter. 'It brings everyone together in the community.'
