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 13th year in a row. 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 Region’s successful fiscal track record and high degree of flexibility – two key characteristics supporting the Aaa rating.

“Maintaining this rating is a reflection of the Region’s consistently sound financial management and forward-looking budgets, especially in light of current economic challenges,” said Ken Seiling, Regional Chair. “The Region continues to be financially balanced, and is well positioned for the future.”

Moody’s places the Region of Waterloo amongst other highly rated municipalities in Ontario. “The Regional Municipality of Waterloo’s Aaa credit rating and stable outlook reflect sound financial management, consistent operating outcomes, a low debt burden and a strong liquidity position.” It also states “the outlook is stable given the discipline displayed by the regional administration in keeping spending and debt under control.”

“In addition to recognizing our sound financial management, this rating also means the Region can borrow money for capital projects for itself and the Area Municipalities at a better rate and pay less interest,” said Craig Dyer, Chief Financial Officer for the Region.

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

Craig Dyer, Chief Financial Officer, 519-575-4545 or cdyer@regionofwaterloo.ca