On June 16, 2020, S&P Global Ratings affirmed its top credit rating for Halton Region. Their research summary praises the Region’s strong fiscal policies and budgetary performance while confirming its confidence in Halton’s ability to uphold this standing into the future despite impacts from COVID-19.
“Receiving this AAA Credit Rating from S&P Global Ratings confirms our strong financial position—the result of diligent planning and transparent reporting—which helps us support a high quality of life in Halton,” said Halton Regional Chair Gary Carr. “This top credit rating will allow us to support ongoing investments in infrastructure while ensuring top value for taxpayer dollars, and we are proud to have earned this distinction for another year.”
Maintaining a top credit rating provides Halton and its Local Municipalities with continued access to the best capital financing rates available, which minimizes long-term infrastructure capital financing costs. As a result, public funds go further when invested in Regional works that help improve essential services in the community, such as road, water and wastewater projects.
S&P’s rating analysis included the following rationale in support of the AAA rating:
- steady population growth, high income levels, and a broad economy foster stability in the Region’s property tax base despite the negative impact from COVID-19;
- prudent financial management practices and solid economic base;
- excellent budget performance and limiting debt issuance; and
- exceptional liquidity position and satisfactory access to external liquidity for financing needs.
The Region has maintained top credit ratings from S&P Global Ratings (AAA) since 2002 and Moody’s Investors Service (Aaa) since 1989—a successful track record of more than 30 years. Earning this distinction from both agencies each year is a key objective of Halton’s annual Budget and Business Plan.
To learn more about Regional finances, please visit halton.ca.
The Regional Municipality of Halton serves 580,000 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.