On May 13, 2021, Standard & Poor’s completed its annual update and review of Haldimand County’s financial credit rating. Based on their review and despite the impacts of the COVID-19 pandemic on the County’s fiscal position, Standard and Poor’s has affirmed the County’s “AA Stable” credit rating.
Over the past years, the County’s credit rating has gone from a “low” of “A Negative” to the current “AA Stable” rating. This is very positive news and a testament to the sound financial policies and principles adopted by Council and managed by staff.
Several factors impact the credit rating of a municipal government. Standard and Poor’s Rating Service evaluates approximately 35 Canadian municipalities, 1 Territory and 9 Provinces, in addition to many international entities. Municipal ratings are based on six main categories: institutional framework; economy; financial management; budgetary performance; liquidity; and debt burden.
“Haldimand County’s financial health is an accomplishment that Council is proud of. Prudent fiscal management and investment decisions have a significant impact on the County’s ability to invest in community infrastructure and deliver quality services,” said Haldimand County Mayor Ken Hewitt.
“Today, Haldimand County is in an excellent financial position to provide quality public services while making strategic investments in infrastructure to not only maintain, but also enhance the quality of life for residents,” he added.
To learn more about Haldimand County’s financial health, visit HaldimandCounty.ca/financials.