Ottawa – The City of Ottawa’s Triple-A credit rating has been reaffirmed by international credit agency Moody’s Investors Service. This is the highest rating possible and reflects strong fiscal outcomes, a manageable debt burden, strong liquidity and a stable economic base.

“This report once again affirms the City of Ottawa’s solid financial position and management practices,” said Mayor Jim Watson. “We have found the right balance as a municipality, and have done so while investing in major infrastructure projects like light rail transit that will benefit our residents for generations to come.”

The report recognizes the City’s strong financial governance, such as “prudent and forward-looking policies and multi-year capital plans” and “conservative debt and investment policies, which limits the city’s exposure to market-related risks.”

“The Moody’s report recognizes the City’s adherence to long-term capital planning which ensures that debt levels and debt-servicing costs remain manageable,” said City Treasurer Marian Simulik. “Council has made financing the City’s future in a responsible way a priority and the Triple-A rating is a testament to this approach.”

Highlights of the report:

– The City of Ottawa is rated at the higher end of Canadian municipalities

– The City’s rating position reflects a lower-than-average debt burden and high levels of liquidity.

– The rating outlook is stable and credit strengths for the City of Ottawa include:

  – effective fiscal planning and stable operations support positive outcomes

  – a significant cash and investments provide ample liquidity

  – a stable economy as the nation’s capital