Halton’s AAA Credit Rating re-affirmed by S&P

AAA Credit Rating
Halton’s AAA Credit Rating re-affirmed by S&P
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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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Halton’s AAA Credit Rating was re-affirmed by the S&P Global Rating on June 11th. It praised superior budgetary performance, low exposure to risk and top financing reports. Internationally, Halton continues to be a top-tier Canadian municipality.

S&P’s decision follows Moody’s Investors Service upholding its AAA rating for Halton (Moody’s highest rating) in January 2018. The AAA credit ratings make sure that the region borrows funds at the lowest rate available. The rating also keeps property taxes low, benefiting residents as well as businesses.

The AAA credit rating means that over the next 10 years Halton will invest $4.2 billion in roads, water and wastewater infrastructure.

S&P AAA Credit Rating Rationale

  1. very strong and well-diversified economy integrated within the GTA with consistent growth
  2. very strong financial management with well-defined prudent and conservative financial policies, well-documented financial plan, and stable and well-qualified management team
  3. very strong and stable budget performance, very low debt burden and very low contingent liabilities
  4. exceptional internal liquidity support, access to external liquidity for refinancing needs and very robust internal cash flow generation ability

Oakville Specific Projects:

Water and Wastewater Treatment Projects

  1. Mid-Halton Wastewater Treatment Plant (WWTP) expansion and capital maintenance ($162.7 M)
  2. Burloak WPP Phase 2 Expansion from 55 to 165ML/d ($130.6 M)
  3. Oakville Southeast WWTP maintenance ($42.4 M)

Road Projects

  1. AAA Credit Rating

    Halton Region plans to spend $369.9 million over 10 years.
    Photo by Franck V. on Unsplash

    Upper Middle Road – Widening from 4 to 6 lanes from Trafalgar Road to Winston Churchill Blvd ($79.9M)

  2. Bronte Road – Widening from 4 to 6 lanes from Speers Road to Highway 407 ($66.1 M)
  3. William Halton Parkway – 4 lane road from Old Bronte Road to Sixth Line ($88.1 M)
  4. Tremaine Road – Widening from 2 to 4 lanes from Dundas Street to Lower Base Line ($41.3 M)
  5. Trafalgar Road – Widening from 4 to 6 lanes from Dundas Street to Highway 407 ($36.2 M)
  6. Ninth Line – Widening from 2 to 4 lanes from Dundas St to Highway 407 ($31.3M)
  7. Dundas Street – Widening from 4 to 6 lanes from Tremaine Road to Bronte Road ($27.0M)

These projects will not only service Oakville, but will also benefit the entire region.

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