Keeping the books in order
The City of Kingston has achieved a remarkable AA+ credit rating with a stable outlook for the third consecutive year. This rating reflects the city’s ability to meet financial obligations and highlights its solid fiscal policies. Mayor Bryan Paterson stated that the credit rating sends a positive message to businesses, making Kingston an attractive place to invest.
S&P Global Ratings conducted a thorough review of Kingston’s economy, governance, and financial management practices. Their report praised the city’s diversified economy and robust population growth, as well as its effective budgeting strategies.
Desiree Kennedy, Chief Financial Officer, noted that the AA+ rating assures residents of the city’s financial stability, particularly in light of challenges such as inflation and infrastructure needs. Kingston has consistently received high ratings from S&P, having upgraded from AA (Stable) to AA+ (Stable) in June 2022.
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