Wellington County has held onto its AAA Credit Rating from the Standard & Poor’s Global Ratings.
This rating is considered the highest possible to achieve for any municipality.
S&P is an independent company which looks at municipalities and corporations around the world and analyzes their capacity to meet financial obligations.
Standard & Poor’s highlighted the following areas for the AAA credit rating:
- Steady income levels are anticipated in a strong economy with favourable geographic location.
- The County will continue to post solid operating balances, anchored by stable tax receipts and prudent financial management.
- The County’s capital plan is mostly funded through accumulated capital reserves, supporting a moderate debt burden.
- Wellington is expected to maintain healthy reserves, contributing to exceptional liquidity.
Warden Chris White says a strong credit rating results in lower cost of borrowing to help finance future capital projects for the County and its member municipalities.