The City of North Bay has once again maintained its Aa2 credit rating with Moody’s Investors Service.
A City news release says, according to Moody’s latest report, the rating is reflective of “prudent fiscal planning and stable operations” as well as North Bay’s diverse economy.
“Moody’s continues to recognize the City’s ability to successfully fund priority programs and infrastructure projects while recording healthy financial outcomes and maintaining a solid balance sheet with adequate liquidity. North Bay’s debt remains below average when compared with other Moody’s rated Canadian municipalities, while debt service costs, measuring 7.1% of total revenues, remain at a manageable level given the City’s fiscal flexibility.”
