On June 10, 2021, S&P Global Ratings (S&P) completed their annual review and maintained their highest rating of AAA for Halton Region. Their rating and annual review attributed a stable outlook for the Region, indicating confidence in Halton’s ability to uphold this standing into the future despite negative impacts from COVID-19.
“This top credit rating will allow us to support ongoing investments in infrastructure while ensuring top value for taxpayer dollars,” said Halton Regional Chair Gary Carr. “These investments are part of the essential Regional programs that keep Halton a great place to live. We are proud to have earned this distinction for another year and will continue our work to maintain our strong financial position during the pandemic and in our recovery from COVID-19.”
By upholding this top credit rating, Halton and its Local Municipalities have continued access to the best capital financing rates available. This minimizes long-term infrastructure capital financing costs, allowing 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 analysis included the following strengths 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 the COVID-19 pandemic;
- strong provincial and federal emergency support to cover the pandemic’s financial impact;
- prudent financial management practices, robust long range planning guided by detailed asset management plans and diverse economic base;
- solid budgetary 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. 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 more than 595,000 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.