Moody’s confirms Muskoka District’s Aa2 credit rating and raises outlook to positive
Moody’s Investors Service, an international bond credit rating company, confirmed the district’s credit rating of Aa2 and raised its status from stable to a positive outlook.
In a statement released by Moody’s on September 24, 2021, the cabinet cites the district council’s strong governance and prudent budget management during the pandemic. The rating and outlook affirmation also reflects the district’s track record of “strong cash and debt management with an emphasis on limiting the increase in debt, as well as forward planning. fixed assets ”. View the full press release issued by Moody’s here: https://www.moodys.com/research/Moodys-affirms-Muskokas-Aa2-rating-changes-outlook-to-positive–PR_453339
Maintaining a high-quality credit rating provides access to lower long-term borrowing costs for district and zone municipalities for infrastructure investments such as water, wastewater, roads, bridges and other community projects. This ensures that district services remain affordable and sustainable for residents and businesses, now and in the future.
“This positive outlook is a vote of confidence in the District market. This is a testament to the past prudent financial oversight of this Board tenure and previous Boards who, by working in conjunction with staff, have been able to build up reserve funds and meet budget guidelines for the long-term benefit of the Board. our communities. – District President John Klinck
“I want to thank everyone for their commitment to achieving this excellent credit rating. Not only does this reflect the district’s resilience to deal with the unprecedented impacts of COVID -19, but it also reflects the commitment of the board and staff to the long-term prosperity of the district. By working together, we have achieved a financial rating that will benefit the district and our communities. – Councilor Graydon Smith, District Vice President and Chair, Finance and Corporate Services Committee