S&P ups C-K’s credit rating

Standard & Poor’s, the global credit-rating service, has bumped up the Municipality 0f Chatham-Kent’s credit rating to A+ from A.

“The rating on the Municipality of Chatham-Kent, in the Province of Ontario, reflects Standard & Poor’s Ratings Services’ assessment of a predictable and well-balanced local government framework, the municipality’s strong budgetary performance, its manageable debt burden, and its very positive liquidity,” the service said in its statement. “We believe Chatham-Kent’s relatively weak and less-diversified economy, constrained budgetary flexibility, and less well-developed financial policies and practices than those of some peers partially offset these strengths.”

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