County Receives AA+ Credit Rating

Some positive news for the County of Essex.

The county has received a AA+ credit rating from Standards & Poor's.

County CAO Rob Maisonville says it's the highest credit rating offered to a county level government in Ontario. He says the rating means the county is doing all the right things when it comes to finances.

Maisonville says he's pleased and proud.

"What it means is that from a financial stand point, we've been doing all the right things," says Maisonville.  "We have virtually zero debt, levy supported debt.  We got a strong asset management plan which we recently brought back to council and that's our 25-year plus time horizon for those asset replacements."

AM800-NEWS-ESSEX-CIVIC-CENTRE-MAY2016

Essex County Civic Centre (Photo by Zander Broeckel)

Maisonville says the county has a strong asset management plan.

"Our asset health and our financial health of our assets is in the B to A range so very strong in terms of having the funds necessary to replace our assets," says Maisonville."

He believes moving forward, the county is in a good financial situation.

"On a go forward basis, we also have the funding in place for asset expansion and I think that's very important," says Maisonville.  "So not only are we taking care of our assets in the past but we're also building out the future for expansion of assets."                 

Maisonville adds the county has held a AA rating for the last five years.