I am pleased to share that on February 3, 2023, Halton Region earned a top credit rating from Moody’s Investors Service for a 35th consecutive year! Earning a top credit rating from Moody’s is critical to preserving Halton’s strong long-term financial position as we work to build and enhance community infrastructure.
Achieving this rating status provides the Region and its Local Municipalities with continued access to the best capital financing rates available. Halton’s 2023 Budget and Business Plan includes a 10-Year Capital Budget and Forecast of $6.7 billion, which features water, wastewater and transportation masterplans to support future growth. Receiving this top credit rating means that public funds go further when investing in essential Regional works, infrastructure and services. This minimizes the long-term costs of large-scale construction and allows us to deliver maximum value for taxpayers while maintaining a high quality of life in the community.
Moody’s analysis praised the Region’s growing and diversified economy with a rising population, our fiscal management practices and institutional framework.
Moody’s report highlighted the following credit strengths:
- exceptional levels of liquidity and low debt burden;
- strong governance and management including forward looking operating and capital planning;
- diversified economy and strong population growth leads to rising tax base; and
- stable and predictable revenue sources support strong fiscal outcomes, and shelter the Region from fiscal pressures including adverse Provincial changes
Earning a top credit rating from Moody’s Investors Service (Aaa) and S&P Global Ratings (AAA) is critical to preserving our strong long-term financial position. Halton Region has maintained top credit ratings from S&P Global Ratings since 2002 and Moody’s Investors Service since 1989. Upholding this distinction from both agencies is a key objective in the 2023 Budget and Business Plan. We are proud to have preserved this top credit rating while continuing to invest in critical program enhancements and core services while keeping property tax increases for Regional services at or below the rate of inflation
By maintaining a strong financial position we help keep Halton a great place to live, work, raise a family and retire. To learn more about Halton Region’s financial information, including annual budgets, reports and more, please visit the Finance and Transparency page on halton.ca.