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Halton Region’s AAA credit rating affirmed by S&P Global Ratings

S&P Global Ratings
Halton Region’s AAA credit rating affirmed by S&P Global Ratings
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On June 16, 2020, S&P Global Ratings affirmed its top credit rating for Halton Region. Their research summary praises the Region’s strong fiscal policies and budgetary performance while confirming its confidence in Halton’s ability to uphold this standing into the future, despite impacts from COVID-19. Halton released the results yesterday, July 10.

“Receiving this AAA Credit Rating from S&P Global Ratings confirms our strong financial position,” says Halton Regional Chair Gary Carr. “This is the result of diligent planning and transparent reporting, helping us support a high quality of life in Halton.”

“This top credit rating allows us to support ongoing investments in infrastructure while ensuring top value for taxpayer dollars. We are proud to have earned this distinction for another year.”

Maintaining a top credit rating provides Halton and its Local Municipalities with continued access to the best capital financing rates available. These rates minimize long-term infrastructure capital financing costs.

As a result, public funds go further when invested in regional works to help improve essential services in the community. Improvements can include road, water and wastewater projects.

S&P’s analysis includes the following rationale in support of the AAA rating:

  • steady population growth, high income levels, and a broad economy foster stability in the Region’s property tax base despite the negative impact from COVID-19;
  • prudent financial management practices and solid economic base;
  • excellent budget performance and limiting debt issuance; and
  • exceptional liquidity position and satisfactory access to the external liquidity for financing needs.

 

The Region has maintained top credit ratings from S&P Global Ratings (AAA) since 2002 and Moody’s Investors Service (AAA) since 1989 – a successful track record of more than 30 years. Earning this distinction from both agencies is a key objective of Halton’s annual Budget and Business Plan.

To learn more about Regional finances, please visit halton.ca.

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