On January 20, 2015, Moody’s Investors Service once again assigned a AAA credit rating to Halton Region. Citing Halton’s strong financial position and prudent budgetary practices in its annual review, Moody’s also attached a “stable outlook” for the Region’s financial future, indicating its confidence in Halton’s ability to maintain this standing.
Our strong financial position is an integral part of our ability to invest in Halton’s future. Achieving the highest credit rating possible from Moody’s Investors Service, while keeping taxes low, demonstrates that Halton Region’s growth is both fiscally responsible and sustainable. Regional Council is committed to governing for the future as part of our Strategic Action Plan, and this achievement confirms that we continue to move in the right direction with one of the best records in Canada.
Achieving a AAA rating ensures Halton Region and the four Local Municipalities that borrow under this credit rating continue to obtain the best possible capital market financing rates, minimizing the longer term costs of infrastructure capital. Moody’s included detailed reasoning for the decision, pointing to Halton’s actions in a number of areas including:
- Effective multi-year planning and prudent fiscal policy;
- Management’s conservative debt and investment management policies which limit exposure to market related risks and help ensure smooth debt servicing costs;
- The Region’s forward-looking operating and capital plans to address pressures and spending requirements; and
- The Region’s comprehensive, transparent and timely financial reporting.
On January 28, 2015, Regional Council approved a 1.5 per cent increase in property taxes to fund Regional tax supported programs and services while strengthening the Region’s investment in the planning and delivery of infrastructure. This increase contributes to Halton’s eight-year track record of keeping tax increases at or below the rate of inflation.
To learn more about Halton’s budget, including an overview of the Halton Region Budget and Business Plan 2015, visit www.halton.ca/budget.