Moody’s Investors Service reaffirms highest credit rating for Halton Region

Credit Rating in Scrabble Letters
Moody’s Investors Service reaffirms highest credit rating for Halton Region
Kerr Street Cafe
Advertisement

About the Author

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.

Latest posts (See all)

Downtown Oakville TD Songs Summer Concert Music August 19 2017
Advertisement

On January 20, 2015, Moody’s Investors Service once again assigned a AAA credit rating to Halton Region. Citing Halton’s strong financial position and prudent budgetary practices in its annual review, Moody’s also attached a “stable outlook” for the Region’s financial future, indicating its confidence in Halton’s ability to maintain this standing.

Our strong financial position is an integral part of our ability to invest in Halton’s future. Achieving the highest credit rating possible from Moody’s Investors Service, while keeping taxes low, demonstrates that Halton Region’s growth is both fiscally responsible and sustainable. Regional Council is committed to governing for the future as part of our Strategic Action Plan, and this achievement confirms that we continue to move in the right direction with one of the best records in Canada.

Achieving a AAA rating ensures Halton Region and the four Local Municipalities that borrow under this credit rating continue to obtain the best possible capital market financing rates, minimizing the longer term costs of infrastructure capital. Moody’s included detailed reasoning for the decision, pointing to Halton’s actions in a number of areas including:

  • Effective multi-year planning and prudent fiscal policy;
  • Management’s conservative debt and investment management policies which limit exposure to market related risks and help ensure smooth debt servicing costs;
  • The Region’s forward-looking operating and capital plans to address pressures and spending requirements; and
  • The Region’s comprehensive, transparent and timely financial reporting.

On January 28, 2015, Regional Council approved a 1.5 per cent increase in property taxes to fund Regional tax supported programs and services while strengthening the Region’s investment in the planning and delivery of infrastructure. This increase contributes to Halton’s eight-year track record of keeping tax increases at or below the rate of inflation.

To learn more about Halton’s budget, including an overview of the Halton Region Budget and Business Plan 2015, visit www.halton.ca/budget.

Hudson's Bay logo (English)
Advertisement

Tags:

, , , , , , , ,


Readers Comments (0)




Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

%d bloggers like this: