Release Date: Feb 18, 2016
For the 26th consecutive year, Moody’s Investor’s Service has reaffirmed Halton Region’s Aaa credit rating, ranking it once again at the high end of Canadian municipalities. Praising Halton’s strong governance and management characteristics, Moody’s rating analysis highlights Halton’s adherence to conservative debt and investment policies that help limit the Region’s exposure to market-related risks and ensure level debt servicing costs.
“We are proud to be recognized once again for our excellent financial practices that have placed us in this exclusive category of high-performing municipalities,” said Halton Regional Chair Gary Carr. “Halton is committed to being a transparent, accountable and fiscally responsible government that contributes to a high quality of life in our community. Our Aaa credit rating is essential to achieving this goal, as it helps us keep taxes low and maximize our investments in Halton’s future while minimizing the cost for taxpayers.”
The Aaa credit rating allows Halton Region, as well as its four Local Municipalities, to finance major infrastructure and community projects at the lowest possible long-term costs by providing continued access to the best capital financing rates available.
In its analysis of Halton’s financial position, Moody’s outlined the following credit strengths:
•strong operating budgetary results, owing to fairly well-matched revenues and expenditures;
•moderate debt burden and high levels of liquidity;
•commitment to multi-year planning and prudent fiscal policy; and
•diverse economy and strong population growth.
Moody’s rating analysis praises the Region’s forward-looking operating and capital plans to address pressures and spending requirements early on, as well as its comprehensive, transparent and timely financial reporting.
In July 2015, Standard & Poor’s Rating Services also reaffirmed the Region’s top credit rating. Its report featured similarly positive statements about the organization’s high liquidity, low debt burden, and strong performance and reporting.
To learn more about Halton Region’s financial position, visit halton.ca/budget.
The Regional Municipality of Halton serves more than 500,000 residents in the City of Burlington, the Town of Halton Hills, the Town of Milton, and the Town of Oakville. Halton Region is committed to meeting the needs of its residents through the delivery of cost-effective, quality programs and services, including water and wastewater; Regional roads and planning; paramedic services; waste management; public health; social assistance; children’s and seniors’ services; housing services; heritage programs; emergency management and economic development. For more information, dial 311 or visit Halton Region’s website at halton.ca.
905-825-6000, ext. 7064