Halton Region’s AAA credit rating good for taxpayers in Milton, Oakville, Burlington
Published February 21, 2023 at 10:51 am
For more than three decades, Halton Region has had a AAA credit rating from Moody’s Investors Service, and this year is no different.
“Preserving Halton’s strong financial position has been an essential part of enhancing our services and critical investments, especially as we work to grow and support infrastructure for residents,” said Halton Regional Chair Gary Carr.
“We are proud to preserve this credit rating for the 35th consecutive year. Receiving this AAA credit rating confirms our prudent financial planning and supports our ongoing plans to maintain a high quality of life in Halton.”
Achieving this rating ensures Halton Region and local municipalities Oakville, Burlington, Milton and Halton Hills, which borrow under this credit rating, will continue to receive the best funding rates in the capital markets.
Moody’s report praises Halton Region’s growing and diversified economy with a rising population, its fiscal management practices and institutional framework.
Moody’s report highlighted the following credit strengths as rationale for their decision:
- exceptional levels of liquidity and low debt burden
- strong governance and management including forward looking operating and capital planning
- diversified economy and strong population growth leads to rising tax base
- stable and predictable revenue sources support strong fiscal outcomes, and shelter the Region from fiscal pressures including adverse provincial changes
Last July, S&P Global Ratings also upheld its top rating for Halton, which has been AAA since 2002.insauga's Editorial Standards and Policies advertising