On January 18, 2011, Moody’s Investors Service published its annual review of Halton Region’s credit standing, affirming the highest rating of AAA for Halton for the 21st year in a row. I am very proud of this achievement.
Halton Region’s high international credit rating is excellent news for residents because it ensures the Region and our Local Municipalities are able to borrow money at the best possible financing rates in the capital markets, minimizing the longer term costs of infrastructure capital. The Region’s lower costs can then be passed on to taxpayers.
Over the last five years, the average annual tax increase for Regional programs and services has been approximately half a per cent – one of the lowest among municipalities in Canada.
Moody’s Investors Service noted that Halton Region’s adherence to prudent fiscal policies and long-term planning continues to lead to consistent, positive operating results and less reliance on debt issuance. It also observed the Region’s low debt burden and low debt service expenses provide Halton with an increased fiscal flexibility and enhanced ability to address financial pressures.
The AAA credit rating is an achievement that is widely recognized in the investment industry and an acknowledgement of Halton’s strong financial position.
If you have any Regional concerns or comments you would like to share, please feel free to email me at email@example.com. To receive further updates on Regional issues, please subscribe to my quarterly e-newsletter, “The Carr Report.”