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Norfolk County has maintained its AA credit rating with a stable outlook from Standard & Poor’s (S&P), a sign the municipality remains in a strong financial position.
The rating means Norfolk is considered a low-risk investment and can benefit from lower borrowing costs when funding major infrastructure projects.
S&P said the rating reflects the County’s strong cash reserves, solid financial results, responsible financial management, steady revenue growth, and continued support from provincial and federal governments.
The stable outlook means S&P expects Norfolk County to remain financially strong over the next two years, with manageable debt and enough cash to meet its needs.
The report also praised the County’s long-term financial planning and growing reserve funds, which help pay for capital projects while reducing the need to borrow.
Mayor Amy Martin said maintaining the AA rating confirms the disciplined financial decisions made by Council and staff are paying off and will help Norfolk continue investing in the infrastructure and services residents rely on.
The report now heads to Norfolk County Council for final approval on July 28.
