Courtesy of the Municipal Finance Authority of BC:
We are very pleased to share that MFA’s (Municipal Finance Authority of BC) AAA Rating has once again been re-affirmed by Moody’s Ratings.
The Moody’s team stated:
“The affirmation of MFABC's aaa BCA and Aaa ratings reflects its very limited exposure to provincial credit stress. MFABC is a pool program and as such transmission channels between the province and MFABC arise indirectly through borrowing members who are jointly and severally liable for MFABC's liabilities – and include municipalities, regions and hospital districts. The regional districts have mostly stable revenue sources including property taxes and user fees that are not affected by provincial policy or fiscal decisions. The hospital districts receive consistent revenues from the province, and further benefit from provincial spending commitments to improve healthcare. We assess MFABC's governance as very strong, with exceptional fiscal, investment and liquidity management.”
For the full Moody ratings article please visit our website:
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