Peel Region continues to hold Aaa (stable) rating from Moody’s Ratings

BRAMPTON, ON (September 5, 2024) – Moody's Ratings published an updated credit opinion on August 29, 2024. Peel Region continues to hold a Aaa credit rating with a stable outlook, which is the highest rating a municipal or regional government can receive. The Region has held a Aaa credit rating with Moody's Ratings since 2011.

Peel's Aaa credit rating is based on our strong governance framework and prudent financial management practices. This rating reflects our every-day commitment to managing tax dollars responsibly while delivering value-added, affordable services to residents and businesses today and over the long-term.

Moody's stated that the credit profile of Peel reflects "a growing local economy backed by strong population growth…". Further, the stable outlook reflects stable revenue sources and continued favourable economic fundamentals. Peel's history of solid operating performance and stable revenue streams, including property tax and user fees, further support the credit strength of Peel.

Moody's also noted the following credit strengths for the Region:

• Solid operating results supported by a growing economy and strong governance
• Sizable investment holdings provide ample coverage of debt and expenses
• High debt affordability and modest debt levels

Despite recent regulatory changes, Moody’s highlights that Peel is no longer being dissolved and continue to view the overall institutional framework governing municipalities as strong.

Maintaining a high credit rating is in alignment with Regional Council'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 Peel Region's 20–year Strategic Plan with a vision of building a Community for Life across Peel.

Quotations

Peel's consistently high credit rating by Moody's demonstrates strong financial management and planning, and a commitment to Peel's plan to ensure services remain affordable and sustainable for residents and businesses in Peel.

Davinder Valeri, Chief Financial Officer and Commissioner of Corporate Services

Media contact

Genevieve Ricciardella
Communications Specialist
Peel Region