In January 2022, Moody’s Investors Service affirmed its top credit rating for Halton Region, providing the Region and its Local Municipalities with continued access to the best capital financing rates available. Moody’s report indicated a stable outlook for the years to come and praised Halton’s ability to achieve positive results despite external pressures, such as the COVID-19 pandemic. The Region has maintained its top credit rating from Moody’s Investors Service for the last 34 years.
“Our strong financial position is essential to our successful recovery from the economic impacts of COVID-19,” said Halton Regional Chair Gary Carr. “We are proud to have preserved our top credit rating while continuing to provide essential public health services and keeping property taxes low. This distinction will also support our long-term critical investments in infrastructure and our ongoing plans to maintain a high quality of life for our growing community.”
Halton’s 2022 Budget and Business Plan includes a 10-Year Capital Budget and Forecast of $5.7 billion, which features essential investments in infrastructure for transportation, water and wastewater. By unlocking the lowest possible financing rates, a top credit rating helps public funds go further, minimizes the long-term costs of large-scale construction and allows the Region to deliver maximum value for taxpayers when investing in major public works projects.
Moody’s report highlighted Halton’s following credit strengths as rationale for their decision:
- exceptional liquidity, which provides strong coverage ratios and debenture security;
- low levels of debt, given a preference for pay-as-you-go financing for capital instead of issuing external debt;
- strong governance and management, including forward-looking operating and capital planning; and
- strong capacity for meeting fiscal targets from a robust and growing economy and prudent and forward-looking fiscal planning.
In June 2021, S&P Global Ratings also upheld its top rating for Halton. Maintaining this distinction from both Moody’s Investors Service (Aaa) and S&P Global Ratings (AAA) is a key objective in the 2019-2022 Strategic Business Plan and 2022 Budget and Business Plan.
To learn more about Halton Region’s financial information, including annual budgets, reports and more, 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.