I am pleased to announce that Halton has earned a top credit rating from Moody’s Investors Service for a 34th consecutive year! The agency affirmed their credit opinion on January 20, 2022, providing the Region and its Local Municipalities with continued access to the best capital financing rates available.
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 financing rates, our top credit rating helps public funds go further when we perform these major public works projects. It 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 ability to achieve positive results despite external pressures, like the COVID-19 pandemic. It also cited our fiscal management practices and institutional framework, strategic plans and transparent financial reporting.
Moody’s report highlighted Halton’s following credit strengths:
- 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.
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 as we build and enhance Regional infrastructure. In June 2021, S&P Global Ratings also upheld its top rating for Halton, and maintaining this distinction from both agencies is a key objective in the 2019-2022 Strategic Business Plan and 2022 Budget and Business Plan.
We are proud to have preserved this top credit rating while continuing to provide our community with critical public health services and keeping annual property tax increases at or below the rate of inflation. Our strong financial position and management will 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 halton.ca.