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 14th year in a row. The Region’s Aaa rating reflects sound and stable financial management, a low debt burden and consistency in achieving positive operating outcomes.
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,” 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 position reflects positive operating results, a strong fiscal track record and a currently lower-than-average debt burden when compared to other national peers.” They categorized the Region’s outlook as “stable.”
“In addition to recognizing our sound financial management, this rating 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 credit ratings since 1901. Today, Moody’s rates more than 300 Canadian corporate, structured and public finance issuers.