Simcoe County’s credit is still good.
For the eighth consecutive year S&P Global Ratings reaffirmed the County’s AA credit rating for 2021.
S&P noted the County’s stable economy which they say will support the local recovery from the effects of the COVID-19 pandemic.
They indicated the County’s financial management will continue to fund its capital plans largely internally with minimal reliance on debt, even as it implements significant infrastructure, housing and long-term care developments in coming years.
S&P stated that prudent financial management practices underpin the sustainability of Simcoe’s budgetary performances and debt burden, and modest after-capital deficits will minimize the need for new debt issuance.
S&P also notes Simcoe County’s liquidity remains strong, and there is an expectation that the County’s relationship with the Province will remain well balanced and supportive.
