Standard and Poor's affirms AAA credit rating for Halton Region

Standard and Poor’s Ratings Services (S&P) has published its annual review of Halton Region’s credit standing and for the twenty-first consecutive year has affirmed the highest rating of AAA for Halton. S&P has also attached a stable outlook to this rating indicating its confidence in Halton’s ability to maintain this standing into the future.

“Halton Region’s high international credit rating is excellent news for our residents because it ensures that 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,” said Regional Chair Gary Carr. “The Region’s lower costs can then be passed on to the taxpayer while also ensuring we are investing in the services our residents have told us are important to them like infrastructure.”

Over the last four years, the combined tax increase for Regional programs and services has been less than half a per cent – one of the lowest among municipalities in Canada.

In 2010, the budget delivered the second largest capital infrastructure investment program in the Region’s 36-year history, with an investment of $394.7 million. This funding will be used to upgrade, expand and rehabilitate Halton’s infrastructure, including $109.3 million for transportation, $252.8 million for water and wastewater, and $1.5 million for waste management.

Based on a number of factors, including fiscal management, debt levels, reserve fund balances, capital funding requirements, long-range planning, and economic outlook, S&P’s review focused on Halton’s strong financial position including appropriate liquidity and financial flexibility. S&P also acknowledged the Region’s strong and consistent budgetary performance and the fact that Halton has solid economic prospects that will remain robust.

The Regional Municipality of Halton serves more than 450,000 residents in the City of Burlington, the Town of Halton Hills, the Town of Milton, and the Town of Oakville. Halton Region is committed to meeting the needs of its residents through the delivery of cost-effective, quality programs and services, including water and wastewater; Regional roads and planning; emergency medical services; waste management; public health; Ontario Works (formerly social assistance); children’s and seniors’ services; social/non-profit housing; heritage programs; emergency management and economic development. For more information, dial 311 or visit Halton Region’s website at www.halton.ca.

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