Wellington County, Ont. - Recently, Standard & Poor’s (S&P) Global Ratings announced
that the County of Wellington will maintain its AAA credit rating, Outlook Stable. The AAA
credit rating is the highest possible rating that any municipality can achieve.
“For the fifth consecutive year, the County of Wellington has maintained its AAA credit
rating,” said Warden Chris White. “Responsible financial planning continues to allow the
County to deliver high-quality services and programmes for all residents and businesses
long-term.”
S&P is an independent company that looks at municipalities and corporations around the
world and analyzes their capacity to meet financial obligations. Municipalities that borrow
under the AAA credit rating access the best possible capital financing rates and minimize
long-term infrastructure capital financing costs.
Standard & Poor’s highlighted the following areas for the AAA credit rating:
- Strong management practices and policies will support the County’s strong
financial policy execution in the medium term. - Incomes will remain stable in a strong and diversified economy despite ongoing
trade and tariff uncertainty with the United States of America. - Wellington is expected to maintain healthy reserves, contributing to
exceptional liquidity. - Wellington will continue to post strong operating balances, anchored by
healthy tax receipts and despite high-cost pressures. - It’s expected that Wellington will fund its capital expenses with reserves and
rely less on debt. - The County will maintain healthy reserves, contributing to its very strong
liquidity, which bolsters its credit profile.
“The AAA credit rating is based on strong governance framework and prudent financial
management,” said Councillor Earl Campbell, Administration, Finance and Human
Resources Committee Chair. “A strong credit rating also results in a lower cost of
borrowing to help finance future capital projects for the County and its member
municipalities.”
S & P Global Ratings is a leader in independent credit risk research and market
intelligence including credit ratings, research, and thought leadership. It has offices in
twenty-six countries and more than 150 years of experience.
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Media Contact:
Ken DeHart, County Treasurer
519.837.2600 x 2920
kend@wellington.ca