County maintains strong credit rating
The Standard and Poor’s credit rating agency recently announced the County of Wellington has maintained its AA+ credit rating, with a stable outlook.
“Wellington County’s operating performance and financial management continues to remain very strong,” stated Warden George Bridge in a press release issued by the county on Sept. 1.
“Maintaining this strong credit rating shows that the county is well managed and that council is fiscally responsible balancing needs with resources.
“The AA+ credit rating results in a lower cost of borrowing to help finance future capital projects for the county and its member municipalities.”Standard & Poor’s highlighted the following areas for the AA+ credit rating:
- exceptional liquidity;
- very strong budgetary performance;
- very low debt burden;
- strong financial management;
- very strong, stable and expanding economy; and
- improvements to diversification of economy and job growth.
“The County has a very strong economy, anchored by our diverse manufacturing and agricultural sectors,” said councillor Dennis Lever, chair of the county’s administration, finance and human resources committee. “There is a strong focus on attracting smaller-but-high value sectors, like creative and health care professionals.”
