Moody’s Investor’s Service has upheld its highest credit rating for Halton Region. Their analysis—based on an extensive and objective review of Halton’s performance—cites the Region’s prudent financial management policies as the basis of their decision, which was outlined in a recent credit opinion report. Halton has maintained this rating for over 30 years, and the agency also assigned a stable outlook for positive and consistent fiscal outcomes in the years to come.
“Our top credit rating is critical to maintaining a strong financial position, and we are proud to have earned this distinction once again,” said Halton Regional Chair Gary Carr. “By recognizing the quality of our financial plans, practices and reports, Moody’s has confirmed that Regional Council and staff continue to govern responsibly. With this credit rating, we will keep property taxes low to support residents and businesses as we invest in Halton’s future.”
Maintaining a top credit rating minimizes long-term infrastructure capital financing costs by providing Halton and its Local Municipalities with continued access to the best capital financing rates available. As a result, public funds go further when invested in Regional works, such as road, water and wastewater projects that help improve essential services in the community.
Moody’s analysis highlighted the following credit strengths as the basis of its decision:
- Halton’s excellent track record of posting strong fiscal results each year, supported by stable operations and an effective multi-year budgeting process;
- Halton’s forward-looking operating and capital plans to address pressures and spending requirements early on;
- Halton’s low and declining debt burden; and
- the community’s diversified economy and strong population growth.
The agency also praised Halton’s conservative debt and investment management policies and comprehensive, transparent and timely financial reporting.
In June 2018, S&P Global Ratings also upheld its top rating for the Region, and maintaining this distinction from both agencies is a key objective of the 2019 Budget and Business Plan.
To learn more about Halton’s strong long-term financial position, visit halton.ca.
The Regional Municipality of Halton serves 570,000 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.
905-825-6000, ext. 7064