Halton Region Receives Aaa Credit Rating for the 35th Consecutive Year

*Please see below a news release issued by the Region of Halton.The Regional Municipality of HaltonFor Immediate ReleaseFebruary 21, 2023On February 3, 2023, Moody’s Investors Service reaffirmed Halton Region’s Aaa Credit rating for another year. Achieving this rating status ensures that Halton Region and its Local Municipalities that 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. The Region has maintained its top credit rating from Moody’s Investors Service for the last 35 years.

"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. 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." -- Halton Regional Chair Gary Carr

Earning a top credit rating from Moody’s Investors Service is critical to preserving Halton’s strong long-term financial position as the Region works to build and enhance infrastructure. This distinction is a key objective in the 2023 Budget and Business Plan, and allows public funds to go further when investing in essential Regional works, including road, water and wastewater projects that help build healthy, complete communities.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; and
• stable and predictable revenue sources support strong fiscal outcomes, and shelter the Region from fiscal pressures including adverse Provincial changes

In July 2022, S&P Global Ratings also upheld its top rating for Halton. Halton Region has maintained top credit ratings from S&P Global Ratings (AAA) since 2002 and Moody’s Investors Service (Aaa) since 1989.To learn more about Halton Region’s financial information, including annual budgets, reports and more, please visit the Finance and Transparency page on halton.ca