Wellington County is celebrating its AAA credit rating.
In a release yesterday, the county says Standard & Poor’s Global Rating were announced on Monday and Wellington was affirmed to have a AAA rating with a stable outlook.
It’s the highest possible rating a municipality can achieve.
“This upgraded credit rating reflects the County’s strong operating performance and excellent financial management,” said Warden Kelly Linton. “It’s a testament to the strong financial position and prudent financial practices of County Council and staff.”
Among the reasons for the rating, S & P says the county has a strong local economy that supports healthy budgetary results that keep capital accounts in surplus and the county’s reliance on debt remains in line with expectations.
“This top credit rating allows public funds to go further and helps the County invest in critical infrastructure projects that make Wellington County a wonderful place to live, visit and do business,” commented Chris White, Chair of the County’s Administration, Finance and Human Resources Committee. “The AAA credit rating from S&P exemplifies the County’s commitment to fiscal responsibility and strong financial management.”
