Moody’s maintains Region’s Aaa (Triple A) credit rating
Waterloo Region – Moody’s Investors Service has rated the Region of Waterloo with the highest credit rating possible for the 17th year in a row. The Region’s Aaa rating reflects prudent financial management and long-term planning as well as a proven track record of positive operating outcomes.
The top credit rating was awarded based on the following strengths: a diverse and wealthy local economy; consistent positive operating results; strong management practices; and a mature and supportive institutional framework.
“Maintaining this rating for so long is a reflection of the Region’s consistently sound financial management and forward-looking budgets,” said Ken Seiling, Regional Chair. “The Region continues to manage well while investing in infrastructure and the future to meet the needs of citizens.”
Moody’s rated the Region of Waterloo at the high end of Canadian municipalities. According to the report “the Region consistently posts strong operating results, and the rating reflects their expectation of continued positive fiscal outcomes, robust economic growth and strong debt affordability.” Moody’s categorized the Region’s outlook as “stable.”
“The Region continues to focus efforts on ensuring long term financial sustainability by establishing prudent fiscal policies, improving reserve balances and reducing our reliance on long term borrowing for infrastructure renewal,” said Craig Dyer, Chief Financial Officer for the Region.
Moody’s Investors Service has been providing Canada’s investors and issuers with credit ratings 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
Craig Dyer, Commissioner of Corporate Services and Chief Financial Officer, 519-575-4545 or cdyer@regionofwaterloo.ca