I am pleased to announce that Moody’s Investors Service has upheld Halton’s top credit rating once again, and we have now maintained this distinction for more than 30 years!
In their recent credit opinion report, Moody’s shares high praise for Halton’s financial management, plans and policies, assigning us a “stable” outlook for positive and consistent fiscal outcomes in the future. Their decision is based on an extensive and objective review of Halton’s performance, and their analysis confirms that Regional Council and staff continue to govern our community responsibly.
Moody’s highlighted the following credit strengths as part of its analysis:
- Halton’s excellent track record of posting strong fiscal results each year, supported by stable operations and an effective multi-year budgeting process;
- Halton’s forward-looking operating and capital plans to address pressures and spending requirements early on;
- Halton’s low and declining debt burden; and
- the community’s diversified economy and strong population growth.
The agency also praised Halton’s conservative debt and investment management policies and comprehensive, transparent and timely financial reporting.
Earning the highest possible credit rating from two international rating agencies each year—Moody’s Investors Service (Aaa) and S&P Global Ratings (AAA)—is critical to maintaining our strong long-term financial position. These ratings help us finance major investments by providing Halton and our Local Municipalities with continued access to the best capital financing rates available. This means that public funds go further whenever we perform Regional works, such as road, water and wastewater projects to improve your community.
With a 10-year capital plan valued at $4.3 billion, our top credit rating is a significant advantage for Halton. This rating will help keep property taxes low for residents and businesses as we maintain and enhance our infrastructure, supporting economic prosperity and a high quality of life.
In June 2018, S&P Global Ratings upheld its own top rating for the Region, and earning this distinction from both agencies is a key objective of the 2019 Budget and Business Plan.
As Council prepares its strategic plan for Regional programs and services in 2019 to 2022, Moody’s credit opinion report demonstrates that we are moving in the right direction. Our prudent financial practices will continue to support a thriving community in the years to come, keeping Halton a great place to live, work, raise a family and retire.
As always, if you have any Regional concerns or comments you would like to share, please feel free to email me at firstname.lastname@example.org. You can also find me on Twitter @garycarrhalton, LinkedIn or Facebook. To receive further updates on Regional issues, please subscribe to my quarterly e-newsletter, “The Carr Report”.