S&P affirms Guelph

Standard & Poor's said it affirmed an AA long-term issuer credit and senior unsecured debt ratings on the City of Guelph in the province of Ontario.

The outlook is stable.

The ratings reflect the city's solid economic base, S&P said, along with the rising, but manageable debt burden and good operating performance.

Its exposure to the manufacturing sector and expected near-term decline in liquidity constrain the ratings, the agency said.

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