Wellington County has been given a AA credit rating, council was told at its Sept. 27 meeting.
“This credit rating keeps Wellington County in an excellent financial position,” Warden Chris White said.
“Our economy remains very strong. Wellington is a great place to live, work and invest in.”
The rating was delivered by Standards and Poor, which cited the county’s low debt burden, healthy budgetary performance, solid liquidity and positive financial management. It also measured the state of the local economy and found it to be “recovering from the recession,” and the county, which is “strengthening its economic development capabilities.”
“The county’s financial performance has remain strong,” said councillor John Green, chair of the county’s administration, finance and personnel committee.
“Wellington has the highest rating of any Ontario county rated by Standard and Poor’s. This accomplishment stands as a testament to the great work our staff have been doing.”
Treasurer Ken DeHart said the county rating is better than the province’s AA- rating.
