City of Windsor Financial Rating Raised to AA+ by S&P

Standard & Poor’s (S&P) Ratings Services has revisited their assessment of the Institutional Framework for Canadian Municipalities. As a result of how well municipalities have weathered the financial challenges of COVID, including collaboration with federal and provincial partners, the institutional framework has been assessed as “extremely predictable and supportive.”

Windsor’s most recent long-term issuer credit and senior unsecured debt rating cited that “Windsor’s prudent and forward-looking financial management practices will support the city’s strong budgetary results.” As a result of Windsor’s strong financial position and the updated institutional framework assessment, Windsor has been immediately upgraded to a double-A-plus (AA+) rating.

The City of Windsor will continue with a full annual review by S&P, which will be completed in the coming weeks.

“The last time our credit rating was adjusted was 2007, which goes to show you how rigorous and significant this upgrade is. Our practice of fiscal prudence and responsible investment are paying off, and I’m grateful to administration and City Council for making the difficult decisions required to secure this very positive independent rating,” said Mayor Drew Dilkens.

For S&P’s press release regarding the City of Windsor, visit www.standardandpoors.com.