News release: August 31, 2020
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. 31, 2020) – 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 has maintained a Triple A credit rating for 25 consecutive years.
The Region’s Triple A credit rating is based on the Region's strong governance framework and prudent financial management practices. This rating reflects the Region’s every-day commitment to managing tax dollars responsibly while delivering value-added, affordable services to residents and businesses today and over the long-term.
“The Region of Peel, as well as Brampton, Caledon and Mississauga continue investing in infrastructure such as water, wastewater, roads and affordable housing. With a high credit rating, our municipalities can borrow at lower interest rates in the long-term, should the need arise. 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 approximately 1.5 million people and over 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. For more information about the Region of Peel, explore peelregion.ca and follow us on Twitter @regionofpeel and Instagram @peelregion.ca
Media contact
Genevieve Ricciardella
Communication Specialist
Region of Peel
Tel: 905-965-5967
About Peel Region
In 2024, Peel Region marks its 50th anniversary. Peel Region works with residents and partners to create a healthy, safe, and connected Community for Life for approximately 1.5 million people and over 200,000 businesses in Brampton, Mississauga and Caledon. Peel's services touch the lives of residents every day. For more information explore peelregion.ca and follow us on X @regionofpeel and Instagram @peelregion.ca.
On December 13, 2023, the Ontario government announced that Peel Region will not be dissolved, and that Bill 112 legislation will be updated to reflect service delivery in Peel. Services for residents and businesses will continue without interruption. For updates and more information, visit Peel's transition page.
