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2013-R20-FIN County of Essex - Credit Rating
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2013-R20-FIN County of Essex - Credit Rating
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12/4/2013 10:42:06 AM
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6/25/2014 1:22:45 PM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
12/4/2013
C - Council, Boards and By-laws - Department
Finance
C - Council, Boards and By-laws - Description
2013-R20-FIN County of Essex - Credit Rating
C - Council, Boards and By-laws - Report No.
2013-R20-FIN-1204-RM
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Report
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x <br /> County of Essex <br /> Administrative Report <br /> Office of the Director, Corporate Services/Treasurer <br /> To: Warden Tom Bain and Members of County Council <br /> From: Robert Maisonville <br /> Director of Corporate Services/Treasurer <br /> Date: December 4, 2013 <br /> Subject: County of Essex - Credit Rating <br /> Report #: 2013-R20-FIN-1204-RM <br /> Purpose <br /> To report the results of the County of Essex 2013 credit rating review <br /> conducted by Standard & Poor's (S&P), dated November 29, 2013. <br /> Background <br /> The S&P credit rating provides issuers, investors and intermediaries with an <br /> independent view of the creditworthiness of an entity or simply the entity's <br /> ability and willingness to meet financial obligations (principal and interest) in <br /> full and on time. Factors which influence a credit rating include: state of the <br /> economy; changes in the business climate; existing debt; significant <br /> fluctuations in capital spending; changes to cash flow and liquidity, and <br /> taxation capacity. <br /> Recently S&P conducted its evaluation of Essex County. The evaluation <br /> included interviews with the Director of Corporate Services/Treasurer, <br /> obtaining first-hand information regarding the political, administrative and <br /> financial stewardship of the County. The analysis included: a review of the <br /> Corporation's prior period financial statements, physical asset management <br /> Robert Maisonville, Director of Corporate Services/Treasurer <br /> Corporation of the County of Essex, Suite 202, 360 Fairview Avenue West, Essex, ON N81V! 1Y6 <br /> Phone: 519-776-6441, ext. 328; Email: Robert Maisonville <br />
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