S&P Global Ratings affirms Region’s top credit rating, supporting low taxes and long-term investment

S&P Global Ratings affirms Region’s top credit rating, supporting low taxes and long-term investment

Release Date: Jul 12, 2017

S&P Global Ratings has affirmed Halton Region’s AAA credit rating—S&P’s highest rating—ranking Halton once again at the top end of Canadian municipalities. This distinction allows Halton and its Local Municipalities to fund major projects at the lowest possible long-term costs by providing continued access to the best capital financing rates available.

The rating follows Moody’s Investors Service upholding its Aaa rating for the Region in January 2017, sharing similar approval of Halton’s prudent, forward-looking financial planning principles. Halton Region has maintained its top credit rating with Moody’s for 29 years.

“Halton’s top credit rating is essential to maximizing investments in our community,” said Halton Regional Chair Gary Carr. “This exclusive distinction has become increasingly rare for jurisdictions around the world, and it is the direct result of our diligent planning and transparent reporting. It helps us maintain our strong long-term financial position and keep taxes low while supporting a high quality of life for all.”

The agency’s research update highlights the following credit strengths as the basis of its decision:

  • strong, well-diversified and growing local economy integrated within the GTA;
  • strong financial management with well-defined, prudent financial policies, robust annual budgets and transparent financial statements;
  • strong and stable budget performance, low debt burden and low contingent liabilities; and
  • exceptional internal liquidity and access to external liquidity for refinancing needs.

The research update also notes the positive results of Halton’s Strategic Action Plan, balanced operating budgets and history of strong financial performance, describing a stable outlook for the Region.

To learn more about Halton’s strong financial position, please visit halton.ca/finances.

The Regional Municipality of Halton serves more than 550,000 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, call 311 or visit Halton Region’s website at halton.ca.

-30-

Media Contact:
Robert Hunter
Communications Specialist
Halton Region
905-825-6000, ext. 7064
1-866-442-5866
robert.hunter@halton.ca