On January 30, 2020, Moody’s Investors Service held its AAA credit rating for Halton Region. It is the highest rating that can be awarded.
The determination was based on an extensive and objective review of Halton’s performance. It demonstrates that the governance of Halton Region is effective and responsible. Looking forward, Moody's Investor Services also expects that Halton will continue to be a stable organization for financial reporting and service delivery.
“Our AAA credit rating is critical to maintaining a strong financial position, and we are proud to have earned this distinction for more than 30 years,” said Halton Regional Chair Gary Carr. “This distinction recognizes the high quality of our financial plans, practices and reports, and it helps us invest in essential infrastructure improvements and expansions to support a high quality of life in Halton.”
Maintaining a top credit rating ensures that Halton Region and its four local municipalities (Oakville, Halton Hills, Burlington, and Milton) continue to access the best available financing rates.
With a AAA credit rating public funds go further when the region invests in essential works such as: road, water and wastewater projects.
When the services and infrastructure operate at high level of efficiency businesses are able to succeed, and residents have access to a higher quality of life.
Moody’s based their decision on the Region’s prudent financial management policies, and also included the following regional credit strengths:
- Diversified economy
- Strong population growth
- Low and declining debt burden
- High levels of liquidity
- Strong ability to buffer provincial funding changes through prudent policy planning combined with strong operating results
- Mature and supportive institutional framework
In June 2019, S&P Global Ratings also upheld its top rating for the Region. Maintaining this distinction from both agencies is a key objective of the 2020 Budget and Business Plan. Since 1990 the region has continuously maintained a AAA credit rating.
To learn more about Halton’s strong long-term financial position, visit halton.ca.