Standard & Poor’s updated framework results in City’s credit rating improving to ‘AA+’

(Barrie, ON) Standard & Poor's (S&P) has revised the institutional framework assessment for Canadian municipalities, resulting in the City of Barrie's credit rating improving from 'AA' to 'AA+'. S&P, a financial services company, offers services including credit ratings, data analysis, and equity research to private and public sectors worldwide. For the past several years, S&P has reaffirmed the City's credit rating as 'AA', with a stable outlook.

“We are pleased that S&P has raised our rating to AA+ with the revision of its framework," says Craig Millar, Director of Finance. “Sustaining or improving the City's credit rating is a core principle of our financial policy. As we head into planning the 2023 budget, our staff are dedicated to maintaining the level of financial management S&P has come to expect from the City of Barrie."

S&P's 2021 credit rating report, released last November, highlighted Barrie as demonstrating strong financial management practices, with generally strong political consensus in passing budgets without major amendments or delays.

 S&P's 2022 credit rating report is expected to be released in the Fall. To read reports from 2021 and previous years,


Media Contact
Scott LaMantia
Senior Communications Advisor
The City of Barrie
(705) 739-4220 ext. 4529