The City of North Bay has landed a positive debt rating from Moody’s Investors Service.
The municipality’s rating of Aa2-stable is unchanged from last year and the city said it is reflective of prudent fiscal planning and stable operations.
In a Jan. 14 city release, Moody’s indicated that North Bay’s revenue profile is stable, diversified and the city’s operating expense base is well managed.
Moody’s states that “North Bay displays strong governance and management characteristics. In addition to multi-year operating and capital planning and a recent history of exceeding fiscal targets, management adheres to conservative debt and investment management policies, which limits the city’s exposure to market-related risks and helps to ensure relatively smooth debt servicing costs.”