Region of Durham in Whitby maintains Triple A credit rating from Moody’s Investors Service

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Published February 3, 2022 at 2:45 pm

The Regional Municipality of Durham has maintained its Triple A credit rating with Moody’s Investors Service, one of just Canadian municipalities to hold this rating.

Durham Region benefits from several credit strengths, including low debt levels, economic diversity, a positive operating profile, and conservative fiscal management, declared Moody, one of world’s largest and most prestigious credit rating companies. The accreditation also recognizes the adherence to multi-year financial planning in response to Durham’s steady population growth and increased demand for regional programs and services.

Each year, the Region develops a multi-year forecast, which helps it identify and prepare for future challenges. This long-term financial planning approach allows key Regional Council priorities to be identified early in the budget process, allowing them to move forward in consideration of the current economic environment.

“Maintaining a Triple A credit rating from Moody’s is an important achievement and reflects Regional Council’s long-standing commitment to long-term financial planning, fiscal sustainability and taxpayer affordability. The accreditation also supports Durham’s reputation as a leader in fiscal management and gives our stakeholders confidence that we are managing their tax dollars responsibly,” said Durham Chair John Henry.

“Upholding the key ratings factors outlined by Moody’s – such as solid fiscal management, strong budgetary performance and manageable debt burden – reflects the principles of our long-term financial planning framework,” added Finance Commissioner Nancy Taylor. “Upholding the key ratings factors outlined by Moody’s – such as solid fiscal management, strong budgetary performance and manageable debt burden – reflects the principles of our long-term financial planning framework. This framework allows us to move strategic Regional initiatives forward while accommodating program pressures, economic challenges and uncertainties.”

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