Regional Municipality of Durham Rating Affirmed At 'AAA' Based On Low Tax-Supported Debt And Strong Liquidity Mar 12

Standard & Poors, March 2012

Abstract
We are affirming our 'AAA' long-term issuer credit rating on Durham Region. Durham has low tax-supported debt and strong liquidity support. The stable outlook reflects what we view as the region's manageable debt burden. TORONTO (Standard & Poor's) March 26, 2012--Standard & Poor's Ratings Services today said it affirmed its 'AAA' long-term issuer credit rating on the Regional Municipality of Durham, in the Province of Ontario (AA-/Stable/A-1+). The outlook is stable. "In our view, Durham has had excellent operating performances in recent years," said Standard & Poor's credit analyst Mario Angastiniotis. The region's strong budgetary cash flows from operations have generally ranged between 15% and 20% of operating revenues (Standard & Poor's adjusted) in the past decade, averaging 17% of...

Companies mentioned in this report are: Durham (Regional Municipality of)
Action: Affirmed
Action: Outlook: Stable

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Durham (Regional Municipality of)

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