News & Public Notices
City maintains Standard & Poor's AA credit rating
October 31, 2014 -
A Standard & Poor's Rating Agency Research Update issued today confirmed that the City of Kingston continues to maintain a ‘AA' credit rating with a stable outlook. The rating allows the City to continue to secure funds on the investment market at attractive interest rates and terms.
Standard & Poor's provides supporting rationale for the rating in its report: "The ratings on Kingston reflect our view of the city's very strong economy, exceptional liquidity, and strong financial management. The city has shown the ability to improve operations by streamlining and reprioritizing resources to stay within its financial parameters." The stable outlook reflects an expectation of steady economic growth and strong budgetary performance into the future.
"We are proud of this endorsement of our financial management practices and the strength of our local economy. Standard & Poor's continues to show confidence in our City's planning and fiscal processes and that's great news for the entire community," says City Treasurer Desirée Kennedy.
The City of Kingston provides municipal services to 120,000 residents living in this visually stunning, historic city, often ranked one of the best places to live in Canada. In 2014, it was named a Top 7 Smart Community by the Intelligent Community Forum. Our vision – to become Canada's most sustainable city – focuses our efforts on: environmental responsibility, social equity, economic health and cultural vitality. Please visit www.CityofKingston.ca and join the conversation on social media.
Media contact: For more information contact Cindie Ashton, Communications Officer 613-546-4291, extension 3116. Or call the City of Kingston's media hotline at 613-546-4291, ext. 2300.