County retains its double A credit rating

The Standard and Poor’s credit rating agency announced last week that the County of Wellington maintains a credit rating of double A, with a stable outlook.

The rating is based on a low debt burden, a strong liquidity position, and good economic prospects.

“This favourable credit rating allows the County of Wellington and its member municipalities to benefit from favourable borrowing rates to finance capital infrastructure projects if required,” said Warden Chris White. “The county’s lower costs can then be passed on to the taxpayer.”

A credit rating is an independent opinion of an issuer’s financial capacity to meet its debt payment obligations. The investment community uses credit ratings in order to differentiate credit quality when considering various options.

Wellington has the highest rating of any Ontario county rated by Standard and Poor’s.