Moody’s Investor’s Service has upheld Halton Region’s Aaa credit rating—the agency’s highest—for the 30th consecutive year. The credit opinion report released on January 16, 2018 details the Region’s strong governance and prudent fiscal policies, awarding high praise for the Region’s transparent plans, practices and reports.
“We are proud to celebrate our milestone 30th year with a top credit rating,” said Halton Regional Chair Gary Carr. “This distinction helps us enhance our essential services and invest in the community while preserving our strong long-term financial position. It ranks us at the high end of Canadian municipalities, and will continue to support a high quality of life in Halton.”
Maintaining a top 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. These rates allow the Region to maximize investments in important infrastructure projects while minimizing costs and keeping property taxes low.
Moody’s report on Halton’s financial position highlights the following credit strengths:
- excellent track record of posting strong fiscal results each year, supported by stable operations and an effective multi-year budgeting process;
- forward-looking operating and capital plans to address pressures and spending requirements early on;
- high levels of liquidity and declining, affordable debt burden; and
- diversified economy and strong population growth.
The agency assigned a stable outlook for Halton, with the Region’s conservative debt and investment guidelines contributing to an expectation that its financial performance will remain strong.
In June 2017, S&P Global Ratings also upheld Halton’s top credit rating, and maintaining this distinction from both agencies is a key objective of 2018 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 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.
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