Moody’s Investors Service upholds Halton Region’s top credit rating

Moody’s Investors Service upholds Halton Region’s top credit rating
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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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Moody’s Investors Service has upheld Halton Region’s AAA credit rating—the agency’s highest—for the 29th consecutive year. Profiling Halton’s strong governance and prudent fiscal policies, as well as its forward-looking operating and capital plans, Moody’s credit opinion report demonstrates a high level of confidence in the Region’s continued success.

Halton’s AAA rating ranks us at the top end of Canadian municipalities. The Region is a transparent, accountable and fiscally responsible government that ensures value for taxpayers’ dollars. We are proud to consistently earn this distinction while providing high-quality services and keeping taxes low—our strong financial position helps keep Halton a great place to live.

Maintaining a AAA credit rating allows Halton and its local municipalities to finance major investments at the lowest possible long-term costs by providing continued access to the best capital financing rates available. It helps the Region maximize investments in Halton’s future while minimizing costs for taxpayers.

Moody’s report on Halton’s financial position highlights the following credit strengths:

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  1. strong operating budgetary results, supported by stable revenues and well-managed expenses;
  2. prudent fiscal management and a commitment to long-term planning, supporting the generation of strong financial outcomes;
  3. declining debt burden and high levels of liquidity; and
  4. diversified economy and strong population growth.

The report also praised the Region’s conservative debt and investment policies, as well as its comprehensive, transparent and timely financial reporting. The agency assigned a stable outlook for Halton, with an expectation that the Region’s financial performance will remain strong.

In June 2016, S&P Global Ratings also upheld Halton’s top credit rating, and maintaining this distinction was a key objective in the creation of the 2017 Budget and Business Plan. To learn more about the Region’s strong long-term financial position, visit halton.ca/budget.

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Readers Comments (1)

  1. […] rating follows Moody’s Investors Service upholding its AAA rating for the Region in January 2017, sharing similar approval of Halton’s […]

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