Moody’s Investors Service upholds Halton Region’s top credit rating

Moody’s Investors Service upholds Halton Region’s top credit rating

Release Date: Feb 16, 2017

Moody’s Investors Service has upheld Halton Region’s Aaa credit rating—the agency’s highest—for the 29th consecutive year. Profiling Halton’s strong governance and prudent fiscal policies, as well as its forward-looking operating and capital plans, Moody’s credit opinion report demonstrates a high level of confidence in the Region’s continued success.

“Halton’s Aaa rating ranks us at the top end of Canadian municipalities,” said Halton Regional Chair Gary Carr. “The Region is a transparent, accountable and fiscally responsible government that ensures value for taxpayers’ dollars. We are proud to consistently earn this distinction while providing high-quality services and keeping taxes low—our strong financial position helps keep Halton a great place to live.”

Maintaining a Aaa credit rating allows Halton and its local municipalities to finance major investments at the lowest possible long-term costs by providing continued access to the best capital financing rates available. It helps the Region maximize investments in Halton’s future while minimizing costs for taxpayers.

Moody’s report on Halton’s financial position highlights the following credit strengths:

  • strong operating budgetary results, supported by stable revenues and well-managed expenses;
  • prudent fiscal management and a commitment to long-term planning, supporting the generation of strong financial outcomes;
  • declining debt burden and high levels of liquidity; and
  • diversified economy and strong population growth.

The report also praised the Region’s conservative debt and investment policies, as well as its comprehensive, transparent and timely financial reporting. The agency assigned a stable outlook for Halton, with an expectation that the Region’s financial performance will remain strong.

In June 2016, S&P Global Ratings also upheld Halton’s top credit rating, and maintaining this distinction was a key objective in the creation of the 2017 Budget and Business Plan. To learn more about the Region’s strong long-term financial position, visit halton.ca/budget.

The Regional Municipality of Halton serves more than 540,000 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.

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Media contact:
Robert Hunter
Communications Specialist
Halton Region
905-825-6000, ext. 7064
robert.hunter@halton.ca