Top-notch credit rating for Halton means savings for Burlington, Milton, Oakville


Published March 27, 2024 at 1:34 pm

Halton’s great credit means lower borrowing costs for Oakville, Burlington, Milton and Halton Hills.

Lasts week, Moody’s Investors Service once again affirmed Halton Region’s AAA credit rating.

This rating provides the Region and local municipalities with access to the best possible financing rates, keeping long-term costs lower when financing major infrastructure projects.

“Providing quality infrastructure to service growth and making your tax dollars go further is a top priority,” said Halton Regional Chair Gary Carr.

“We have earned a top credit rating for 36 years in a row and Halton Region is well-positioned to preserve this rating for years to come. We will continue to invest in our growing community and maintain a high quality of life for our residents and businesses.”

Halton’s 2024 Budget and Business Plan includes a 10-year Capital Budget and Forecast of $8.8 billion, which will help provide essential road, water and wastewater infrastructure that supports healthy and complete communities as more homes and businesses are built in the region.

Moody’s report indicated a stable outlook and confidence the Region will maintain the AAA rating into the future, praising Halton Region’s diversified economy, growing population and strong fiscal management.

Moody’s highlights the following strengths that lead to 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 underpins rising tax base
  • stable and predictable revenue sources support strong fiscal outcomes and shelter the Region from fiscal pressures including adverse Provincial changes.

Last June, S&P Global Ratings also maintained its top rating for Halton which has upheld top credit ratings from S&P Global Ratings (AAA) since 2002 and Moody’s Investors Service (AAA) since 1989.

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