Standard and Poor’s affirms AAA credit rating for Halton Region

Standard and Poor’s affirms AAA credit rating for Halton Region
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Nolan A Machan

Nolan A Machan

Nolan Machan is the Publisher of OakvilleNews.Org and has over 41 years of local Oakville knowledge. He is committed to providing Oakville residents with the most up-to-date information about our great town.

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On July 25, Standard and Poor’s has once again affirmed its highest credit rating, AAA, for Halton Region. Earlier this year, Moody’s Investors Service also affirmed the highest rating of AAA for Halton for the 23rd consecutive year. Standard and Poor’s has also attached a stable outlook to this rating indicating its confidence that Halton will continue to demonstrate strong budgetary performance.

“Halton has had an average zero per cent tax increase for the past seven years while maintaining or enhancing service levels,” said Regional Chair Gary Carr. “Our AAA credit rating is confirmation of Halton’s strong financial management and sound budget process. I would like to congratulate Halton staff and Council on yet another outstanding rating.”

Over the past seven years, Halton Region has enjoyed one of the best records in all of Canada for keeping taxes low while maintaining or enhancing the quality of life currently enjoyed by residents.

In their announcement, Standard and Poor’s noted Halton’s very strong liquidity, well-diversified economy and history of strong budgetary performance. The stable outlook determination reflects Standard and Poor’s expectation that the Region’s budgetary performance will remain strong, the tax-supported debt will remain moderate and that Halton will maintain healthy liquidity over the next two years.

To learn more about Halton Region’s budget process visit www.halton.ca/budget, or watch Chair Carr’s video on the 2013 Budget and Business Plan at www.youtube.com/haltonchair.

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