Moody’s maintains Region’s Aaa credit rating
Waterloo Region – Moody’s Investors Service has again rated the Region of Waterloo with the highest credit rating possible. The Region’s Aaa rating reflects sound and stable financial management, a low debt burden and a strong liquidity position. The Region of Waterloo’s debt burden is low when compared to [its] Canadian peers. These low debt and debt servicing ratios illustrate the regional municipality’s high degree of fiscal flexibility and successful fiscal track record – two key characteristics supporting the Aaa rating.”
“Achieving this rating is a reflection of the Region’s sound and prudent financial management and forward-looking budgets, especially in light of current global economic challenges,” said Ken Seiling, Regional Chair. “The Region continues to be strong financially, and is well positioned for the future.”
Moody places the Region of Waterloo amongst other highly rated municipalities in Ontario. “The Region of Waterloo displays strong governance and management characteristics. In addition to long-term planning for capital and operating budgets and a history of meeting fiscal targets, management adheres to conservative debt and investment management policies.” It also states that these decisions “limit the Region’s exposure to market-related risks and ensuing relatively smooth debt servicing costs. These fiscal management measures are also supported by comprehensive, transparent and timely financial reporting.”
Moody’s Investors Service has been providing Canada’s investors and issuers with the highest quality rating service since 1901. Today, Moody’s rates more than 300 Canadian corporate, structured, and public finance issuers.
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For more information please contact:
Bryan Stortz, Director of Corporate Communications, 519-575-4408 or bstortz@regionofwaterloo.ca
The Region of Waterloo provides more than 60 per cent of municipal services to a growing population of 530,000 people. We are committed to creating an inclusive, thriving and sustainable community through innovative leadership and a range of services such as: public health, social services, planning, heritage, water supply, regional roads, waste management, ambulance service, rural libraries, public transit, community housing, emergency planning, Provincial Offences Courts and airport services. Click on the attached pdf to read the Moody's Report Summary |