Wyoming, ON – The County of Lambton’s credit rating, as assessed by financial research and analysis company Standard & Poor’s (S&P), has been upgraded to ‘AA-/Stable’.
In a recently released research update, S&P said the County’s rating was upgraded from ‘A+/Stable’ as a result of its improved budgetary performance and gradually declining debt burden.
“The County is committed to delivering services and programs as cost efficiently and sustainably as possible,” said County Treasurer John Innes. “Receiving this rating from Standard and Poor’s is validation that our efforts to do so are proving effective.”
S&P said the stable outlook reflects its expectations that, in the next two years, the County of Lambton will maintain exceptional liquidity; its tax-supported debt, net of debt on-lent to self-supporting entities, will stay below 30% of projected consolidated operating revenues; and budgetary performance will remain very strong near current levels.
S&P updates its ratings annually based on a thorough investigation of the County’s budget, finances and operations.
For more information about Lambton County, visit www.lambtononline.ca.
-30-
Contact:
John Innes
General Manager, Finance, Facilities and Court Services
County of Lambton
Telephone: 519-845-0809 ext. 5417
email: john.innes@county-lambton.on.ca