Moody’s Investors Service has rated the Region of Waterloo with the highest credit rating possible for the 19th year in a row. The Region’s Aaa rating reflects strong financial management and long-term planning.
The top credit rating was awarded based on the following strengths: a diverse and growing local economy; strong operating results despite provincial funding pressures; sound management practices and policy planning.
“Maintaining this rating for such a sustained period of time is a reflection of the Region’s consistently solid financial management and policy planning,” said Karen Redman, Regional Chair. “The Region continues to meet all financial targets while investing in the future needs of citizens.”
Moody’s rated the Region of Waterloo at the high end of Canadian municipalities. According to the report, Moody’s has an expectation of “continued strong 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 strong financial policies, increasing pay-as-you-go financing for the asset renewal capital program and reducing the Region’s reliance on debt financing,” 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.