Halton’s reaffirmed AAA credit rating places it at top end of Canadian municipalities

Front of Halton Regional Building
Halton’s reaffirmed AAA credit rating places it at top end of Canadian municipalities

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Gary Carr

Gary Carr

In 2006, Gary was elected to the position of Regional Chair at the Regional Municipality of Halton, and was re-elected to the position in 2010. Gary sits on the Standing Committees of Health and Social Services, Administration and Finance, and Planning and Public Works, in addition to a number of Advisory Committees. Gary is also a member of the board for the Greater Toronto Marketing Alliance, and served on the Halton Regional Police Services Board and Metrolinx.

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For the 26th consecutive year, Moody’s Investor’s Service has reaffirmed Halton Region’s AAA credit rating, ranking it once again at the high end of Canadian municipalities. Praising Halton’s strong governance and management characteristics, Moody’s rating analysis highlights Halton’s adherence to conservative debt and investment policies that help limit the Region’s exposure to market-related risks and ensure level debt servicing costs.

We are proud to be recognized once again for our excellent financial practices that have placed us in this exclusive category of high-performing municipalities. Halton is committed to being a transparent, accountable and fiscally responsible government that contributes to a high quality of life in our community. Our AAA credit rating is essential to achieving this goal, as it helps us keep taxes low and maximize our investments in Halton’s future while minimizing the cost for taxpayers.

The AAA credit rating allows Halton Region, as well as its four Local Municipalities, to finance major infrastructure and community projects at the lowest possible long-term costs by providing continued access to the best capital financing rates available.

In its analysis of Halton’s financial position, Moody’s outlined the following credit strengths:

  1. strong operating budgetary results, owing to fairly well-matched revenues and expenditures;
  2. moderate debt burden and high levels of liquidity;
  3. commitment to multi-year planning and prudent fiscal policy; and
  4. diverse economy and strong population growth.

Moody’s rating analysis praises the Region’s forward-looking operating and capital plans to address pressures and spending requirements early on, as well as its comprehensive, transparent and timely financial reporting.

In July 2015, Standard & Poor’s Rating Services also reaffirmed the Region’s top credit rating. Its report featured similarly positive statements about the organization’s high liquidity, low debt burden, and strong performance and reporting.

To learn more about Halton Region’s financial position, visit halton.ca/budget.

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