You have to give the County of Simcoe some credit; it has pretty good credit.
The financial analysis group S&P Global Ratings has reaffirmed the County of Simcoe’s AA credit rating. This represents the fifth consecutive year the agency has done so, citing its high budgetary performance with high operating balances, very low debt levels, and robust liquidity. S&P also points out the County maintains a good degree of transparency and disclosure.
“Our latest S&P rating is another confirmation that the County operates prudently and efficiently,” said Warden George Cornell. “Our strong financial oversight and fiscal responsibility enable us to invest in our local communities, leverage opportunities to enhance service delivery and provide strong value to taxpayers and our municipal partners.”
S&P stated that they expect the County to keep managing its capital program prudently, with a strong reliance on pay-as-you-go financing, avoiding the need to issue new debt over the next two years. As a result, S&P expects the County’s tax-supported debt ratio will decrease slowly to about 7 per cent of operating revenues in its 2021 fiscal year.