I’m excited to share with you that we have made another exceptional achievement as a responsible government. Moody’s Investors Service has reaffirmed Halton’s Aaa credit rating for the 26th consecutive year, ranking Halton at the high end of Canadian municipalities. In its rating analysis, Moody’s credits this remarkable record to our “prudent fiscal management practices and commitment to long-term planning”, which have resulted in strong operating budgetary results and a moderate debt burden.
The report states:
“Halton displays strong governance and management characteristics. The Region has forward looking operating and capital plans to address pressures and spending requirements early on. In addition, management adheres to conservative debt and investment management policies which limit the Regional Municipality’s exposure to market related risks and helps ensure relatively smooth debt servicing costs. These fiscal management measures are also supported by comprehensive, transparent and timely financial reporting.”
Moody’s high praise illustrates Halton’s ongoing commitment to being a transparent, accountable and fiscally responsible government. Maintaining our Aaa credit rating is a vital part of this promise to residents, because it gives the Region, as well as its Local Municipalities, access to the best possible financing rates for infrastructure projects and other large initiatives. These savings minimize the long-term cost to taxpayers while maximizing the community impact of every dollar spent.
The plans and policies praised in Moody’s report represent one of Council’s most important priorities: ensuring value for taxpayers. Their confidence in us confirms that Regional Council and staff continue to move in the right direction by putting residents first. The Aaa rating, as well as the strategies that helped us achieve it, are critical to maintaining Halton’s strong long-term financial position, which will allow us to deliver high-quality programs, services and infrastructure for years to come.
By maintaining our strong financial foundation and perfect credit rating, we can continue to invest in a bright future, keeping Halton a great place to live, work, raise a family and retire.
To learn more, visit halton.ca/budget.
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”.