News Release: August 30, 2019
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. (Aug. 30, 2019) – 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 the Region's strong governance framework and prudent financial management practices, including comprehensive, transparent and timely financial reporting. Moody’s has stated that “Peel’s credit profile reflects strong positive fiscal outcomes, an excellent liquidity profile and a diverse and robust economy.”
“A high credit rating provides access to lower long-term borrowing costs for the Region of Peel as well as Brampton, Caledon and Mississauga for investments in infrastructure such as water, wastewater, roads and affordable housing. Regional Council’s oversight of Peel’s long term financial condition ensures Peel’s services are affordable today and sustainable in the future for both residents and businesses,” said Stephen VanOfwegen, Commissioner of Finance and Chief Financial Officer.
Maintaining a high credit rating is in alignment with 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 today and in the future. It also supports the Region's 20-year Strategic Plan with a vision of building a Community for Life across Peel.
The Region of Peel works with residents and partners to create a healthy, safe and connected Community for Life for more than 1.5 million people and 175,000 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.
Specialist, Corporate Communications
Region of Peel
905-791-7800, ext. 4672