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Skip Navigation LinksSimcoe County > Corporate Communications > S&P Global Ratings reaffirms the County of Simcoe’s AA credit rating
Press Release

S&P Global Ratings reaffirms the County of Simcoe’s AA credit rating


Midhurst/November 17, 2021 – S&P Global Ratings has reaffirmed the County of Simcoe's strong AA long-term issuer credit rating for 2021. 

For the eighth consecutive year, the rating agency has affirmed an AA rating along with a stable outlook for the County of Simcoe based on its prudent financial management and supportive institutional framework. S&P Global Ratings also notes the County's stable economy will support the local recovery from the effects of the COVID-19 pandemic. They indicated that the County of Simcoe's prudent 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. 

“The County's commitment to managing taxpayers' money wisely and efficiently has earned us eight straight years of an AA rating," said Warden George Cornell. “When it comes to our communities and the people we serve, the County ensures that we are able to support those who need us the most with investments in programs, services, funding initiatives and infrastructure, while maintaining responsible tax levels for our residents."

The stable outlook reflects S&P's expectations that the County's strong budgetary performance and very strong liquidity will keep reliance on debt minimal. 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 that the County's liquidity remains strong, continuing to backstop its creditworthiness. S&P expects that the County's relationship with the province of Ontario will remain well balanced and supportive.

About S&P Global Ratings
With 26 offices around the world and a history that dates back more than 150 years, S&P Global Ratings provides high-quality market intelligence in the form of credit ratings, research, and thought leadership.

About County of Simcoe
County of Simcoe is composed of sixteen member municipalities and provides crucial public services to County residents in addition to providing paramedic and social services to the separated cities of Barrie and Orillia. Visit our website at simcoe.ca.

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Andrea Walasek
Public Relations Consultant
County of Simcoe, Service Simcoe Department
249-535-3511 (mobile)

Collin Matanowitsch
Manager, Public Relations
County of Simcoe, Service Simcoe Department
705-734-8386 (mobile)