Niagara's credit rating still high, but slow population growth could slow things down

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Niagara's credit rating is still getting high marks.

Standard and Poor's has reaffirmed our region's "AA" stable credit rating.

Regional Chair Jim Bradley says the report is a positive reflection on the management of the Region’s fiscal resources.

He says he is proud to continue to have the AA rating which highlights both a successful budgetary process and hard work from talented staff.

However, Standard and Poor's report notes slow population growth and weak demographic trends result in a less favourable socioeconomic profile, which is a rating constraint.

Having said that, the report notes that "the expansion of GO commuter train service in the region could increase the influx of younger people and start reversing these trends [less favourable socioeconomic profile]”.

One item that the report points out is related to Ontario’s ongoing regional government review which could have an impact on the Region’s credit profile.

The PC Ford government is reviewing local governance in Niagara and will present its findings, which could include amalgamation, soon.