The Regional Municipality of Durham said its ‘Triple A’ credit rating has been reaffirmed by Moody’s Investors Service for the 32nd consecutive year. This places Durham among only eight Canadian municipalities with this distinction.
Despite the distinction, Durham Region contnues to outpace regional municipalities with a far higher tax rate, except for Oshawa this year.
Not only did it approve a net property tax increase of 7.4 per cent for 2025, and increased water supply and sanitary sewer user rates by 5 per cent, the late December budget announcement forced several regional municipalities to upwardly revise their 2025 budgets (see below).
Borrowing Costs Impacted
By maintaining a Triple A credit rating, Durham and its eight local municipalities benefit from lower long-term borrowing costs, especially during periods when significant investment is required, according to the statement.
The statement said Moody’s cited Durham’s fiscal management, liquidity, and low levels of debt as key reasons for maintaining the highest possible credit rating.
Durham’s economic performance is built on sector diversification and population growth. The municipality also incorporates environmental, social and governance analysis, including carbon transition, green initiatives, and climate adaptation, into its financial planning, according to the region.
For more information on Durham Finance, visit durham.ca/Finance.
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