Norfolk County maintains strong AA credit rating
Norfolk County has maintained its AA/Stable credit rating from Standard and Poor’s (S&P).
An AA rating means Norfolk County is considered financially strong. A strong credit rating is important to maintain access to capital markets, reduce borrowing costs, and reinforce investor confidence, demonstrating that Norfolk is a low-risk investment.
S&P indicated that the rating reflects Norfolk County’s strong cash position, solid financial results, and responsible financial management. The report also noted that the County continues to manage its finances well, supported by steady revenue growth and funding from the provincial and federal governments.
The stable outlook means S&P expects Norfolk County to remain in a strong financial position over the next two years, with manageable debt and enough cash on hand to meet its needs.
The report also points to Norfolk’s long-term planning and use of reserves to help pay for capital projects. This helps reduce the need to borrow while still moving ahead with important infrastructure work.
While the report highlights many strengths, S&P also identified some long-term pressures, including Norfolk’s smaller and aging population, lower income levels compared with some other municipalities, and limited growth prospects. S&P also noted that the County is increasing capital spending to address infrastructure needs and support future growth.
Norfolk County is well-positioned to manage these risks through disciplined financial management, strong liquidity, and continued support from upper levels of government.
A copy of the full credit rating report can be found at norfolkcounty.ca/CreditRating.
The report was received by Council-in-Committee on July 14, 2026, and will be considered for final approval by Norfolk County Council at its July 28, 2026, meeting.
Quote
Mayor Amy Martin
“Maintaining Norfolk County's AA credit rating is a strong endorsement of the disciplined decisions Council and staff have made over the past four years. It confirms that the hard work, careful planning, and responsible financial management undertaken to strengthen our financial position were the right choices for our community. This achievement demonstrates that our long-term approach is delivering results and ensuring we can continue investing in the infrastructure, services, and priorities that residents rely on today and into the future.”
