Niagara Region retains ‘AA+’ credit rating and ‘stable’ outlook

October 25, 2023

Standard & Poor’s (S&P) Global Ratings has reaffirmed Niagara Region’s credit rating as AA+ with a stable outlook.

In a report released Oct. 19, the rating agency praises the Region’s financial management practices and lists its strong institutional framework as being key to the rating.

S&P also highlights the amalgamation of regional transit and corresponding upload under a new transit commission as a success for Niagara.

A credit rating reflects how well an organization is managed financially and looks at the current state of the local economy, and local government framework.

The “AA+” rating for Niagara affirms a continued commitment to the delivery of high-quality service while also focusing on affordability.

However, the document warns of challenges the Region faces to maintaining its current score.

The regional economy will continue to face challenges from inflation and high interest rates. The report notes that the Region with need to manage growth–related debt as it continues to build up services and infrastructure to meet community needs.

“I commend the work Regional staff has undertaken to maintain the AA+ credit rating from Standard and Poor's. The stable rating reflects the sensible financial management of our leadership team and employees who strive every day to ensure Niagara remains on solid economic ground, even during these financially challenging times.”

Jim Bradley, Regional Chair

“Solid financial management is important as Niagara Region continues to advance key initiatives that aim to make our communities stronger. The AA+ rating highlights our success in managing taxpayer dollars responsibly. I would like to thank Regional staff for their hard work and dedication and acknowledge the support from members of Regional Council in decisions that aim to deliver positive results for our residents and communities.”

Todd Harrison, Treasurer and Commissioner

Media contact

Peter Criscione
Niagara Region
289-668-7802
peter.criscione@niagararegion.ca