Moody's maintains Region's Aaa (Triple A) credit rating (3)

Waterloo Region – Moody’s Investors Service has rated the Region of Waterloo with the highest credit rating possible for the 15th year in a row. The Region’s Aaa rating reflects prudent financial management, a low interest burden and a proven track record for positive operating outcomes.

The Region currently has an average level of debt, low interest burden and a healthy level of liquidity compared to its Canadian peers. The top credit rating was awarded for the following strengths: a diverse and robust 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 the future to meet the needs of citizens.”

Moody’s rated the Region of Waterloo as being at the high end of Canadian municipalities. According to the report “Waterloo’s stable operations and sound fiscal management have supported healthy fiscal outcomes.” Moody’s categorized the Region’s outlook as “stable.”

“In addition to recognizing our credit strengths, this rating means the Region can borrow money at a better rate and pay less interest; providing more value for taxpayer dollars,” 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 1909. 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