I am proud to announce that Moody’s Investors Service has upheld Halton Region’s Aaa credit rating for another year. The agency has maintained its highest rating for the Region since 1989, making this our milestone 30th year at the top.
Earning the top credit rating from two international rating agencies—Moody’s Investors Service (Aaa) and S&P Global Ratings (AAA)—provides us with access to the best capital financing rates available. This means we can fund major infrastructure projects at the lowest possible long-term costs. By leveraging this advantage, we maximize investments in Halton’s future while keeping taxes low.
Moody’s credit opinion report confirms that we continue to succeed through diligent planning and transparent reporting. It highlighted the following credit strengths as part of its analysis:
- excellent track record of posting strong fiscal results each year, supported by stable operations and an effective multi-year budgeting process;
- forward-looking operating and capital plans to address pressures and spending requirements early on;
- high levels of liquidity and declining, affordable debt burden; and
- diversified economy and strong population growth.
S&P Global Ratings upheld Halton’s top credit rating in June 2017, and earning this distinction from both agencies is a key objective of 2018 Budget and Business Plan.
The relationship between the Region’s top credit rating and infrastructure investment is essential to maintaining our strong long-term financial position. It enhances every program and service we provide while supporting low property taxes, sustainable growth, economic prosperity and a high quality of life. Our future is dependent on this strong long-term financial position that has placed us at the high end of Canadian municipalities and it helps keep Halton a great place to live, work, raise a family and retire.
To learn more, watch my video on fiscal responsibility or 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 email@example.com. 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”.