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Thursday February 27th, 2014

Posted at 12:00pm

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The City of Windsor has sound financial management, a very low debt burden and healthy budget performance according to the latest credit rating update by Standard & Poor’s.

S&P’s Ratings Services has affirmed its issuer credit and senior unsecured debt ratings for the City of Windsor as ‘AA,’ and says the outlook is stable.

“Consistent affirmation from S&P in recent years is a testament to the hard work and financial prudence of both City Council and our municipal administration,” says Mayor Eddie Francis.

S&P says the ratings reflect their assessment of the city’s “very low debt burden, very positive liquidity, healthy budgetary performance, and positive management. The rating also reflects the city’s economy, which, although improving, has a relatively higher industry concentration in the manufacturing sector.”

S&P says “Windsor demonstrates sound financial management, which has a positive impact on its credit profile.”

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