Towfiqu Barbhuiya on Unsplash
On Feb 3, Moody’s Investors Service reaffirmed Halton Region’s AAA Credit rating, ensuring the region and municipalities borrow at the best funding rates. Moody’s report points to the region's growing and diversified economy with a rising population, fiscal management practices and institutional framework. This marks the region's 35th year of attaining a AAA credit rating.
“Preserving Halton’s strong financial position has been an essential part of enhancing our services and critical investments, especially as we work to grow and support infrastructure for residents,” said Halton Regional Chair Gary Carr.
Earning a top credit rating is critical to preserving Halton’s strong long-term financial position as it works to build and enhance infrastructure. A key objective in the 2023 Budget and Business Plan, the rating allows public funds to go further when investing in essential Regional works, including road, water and wastewater projects that help build healthy, complete communities.
Highlights of Moody’s report
- Exceptional levels of liquidity and low debt burden;
- Strong governance and management, including forward-looking operating and capital planning;
- Diversified economy and strong population growth leads to a rising tax base
- Stable and predictable revenue sources support strong fiscal outcomes and shelter the region from fiscal pressures, including adverse Provincial changes
In July 2022, S&P Global Ratings also upheld its top rating for Halton. Halton Region has maintained top credit ratings from S&P Global Ratings (AAA) since 2002 and Moody’s Investors Service (AAA) since 1989.
To learn more about Halton Region’s financial information, including annual budgets, reports and more, please visit the Finance and Transparency page on halton.ca.
