City of Barrie receives premium credit rating
Barrie's Standard & Poor's credit rating gets a boost.
A financial reassessment gave Barrie a gold star and then some.
After revising the institutional framework assessment for Canadian municipalities, Standard & Poor's (S&P) has determined the City of Barrie's credit rating has improved from its double-A rating to AA+.
"We are pleased that S&P has raised our rating to AA+ with the revision of its framework," said Craig Millar, Barrie's director of finance. "Sustaining or improving the city's credit rating is a core principle of our financial policy. As we head into planning the 2023 budget, our staff are dedicated to maintaining the level of financial management S&P has come to expect from the City of Barrie."
For the past several years, S&P has reaffirmed the city's credit rating as 'AA', with a sustainable outlook.
Last year's credit rating report indicated Barrie had demonstrated robust financial management practices with resilient political agreements, and passed budgets without serious delays
S&P is a financial services organization that offers credit ratings and data analysis to both private and public industries worldwide.
S&P's next municipal credit rating will be released this Fall.
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