Durham maintains AAA rating

Once again, a top credit rating agency has given Durham its highest grade.

According to a news release from the Region of Durham, Standard and Poor’s (S&P) has given the region its coveted AAA rating – one of only six municipalities in the country to do so.

In its report, S&P lauded the region for its multi-year financial planning.

“Regional council’s commitment to long-term financial planning has provided Durham Region with the flexibility to meet growth-related infrastructure requirements, while maintaining a low level of debt,” states Roger Anderson, the region’s chair and CEO, in a news release.

“This practice allows the region to implement key council priorities, while maintaining fiscal sustainability.”

“Maintaining this rating is an important accomplishment for the region, as we are committed to practices that achieve cost effectiveness, accountability and transparency,” states Councillor Bob Chapman, chair of the finance and administration committee, in the same news release.

“It demonstrates to residents that their tax dollars are being managed responsibly, as we continue to build Regional programs and services to meet increasing demands.”