News Release: September 10, 2018
Region of Peel is One of Eight Canadian Municipalities to Receive Triple A Credit Rating by Moody’s Investors Service
Triple A is the highest credit rating a municipal or regional government can achieve
BRAMPTON, ON. (Sept. 10, 2018) – Moody's Investors Service has reaffirmed the Region of Peel's Triple A credit rating, which is the highest rating a municipal or regional government can achieve. The Region's Triple A credit rating is based on a track record of consistent, positive financial outcomes that are supported by prudent, forward-looking fiscal and budget policies, strong population growth and a diversified economy.
"We are proud to maintain our Triple A credit rating by Moody's Investors Service. A high credit rating lowers the cost of borrowing for the Region of Peel as well as Brampton, Caledon and Mississauga. This enables us to respond to the changing needs of our community while delivering high-quality, affordable services " said Stephen VanOfwegen, Commissioner of Finance and Chief Financial Officer. "Being one of only eight Canadian municipalities to receive a Triple A credit rating reflects our commitment to long-term financial planning, prudent financial management and the responsible use of tax dollars."
Maintaining a high credit rating is one of the key outcomes of the Region's Long Term Financial Planning Strategy (LTFPS), which guides Regional investments in services, programs and infrastructure to meet the needs of Peel residents, businesses and community partners. In doing so, it supports the Region's 20-year Strategic Plan and vision of Community for Life.
The Region of Peel works with residents and partners to create a healthy, safe and connected Community for Life for more than 1.4 million people and 173,000 businesses in the cities of Brampton and Mississauga and the Town of Caledon. Peel's services touch the lives of residents every day. Recognized as a leader in management and service delivery, the Region of Peel is the only government organization at any level to receive Excellence Canada's Platinum Award for Excellence, Innovation and Wellness®. For more information about the Region of Peel, explore peelregion.ca and follow us on Twitter at @regionofpeel.
Media ContactsGenevieve Ricciardella
Specialist, Corporate Communications
Region of Peel
905-791-7800, ext. 4672