Mayor Al McDonald is releasing details of the City of North Bay’s latest credit rating evaluation.
Moody’s Investors Services reports that the City’s credit rating remains consistent at “Aa2” with a stable outlook.
McDonald says that forward-thinking approaches when it comes to operating and capital pressures are a contributing factor to this rating.
According to Moody’s, the City’s prudent approach to fiscal planning enables the City to routinely generate positive operating results. By effectively using forward-looking budgeting techniques to align fiscal policies with long-term planning, the City’s finance department is able to identify and address concerns quickly through the use of strong financial reporting practices.
The Mayor is confident that the City’s ongoing efforts to find innovative solutions in the face of anticipated operating and capital pressures will see residents enjoy the same service levels they have become accustomed to.