Hamilton’s General Manager of Finance is confident that the city can maintain its “AA-positive” credit rating.
That’s despite the addition of $66 million in new debt as part of the proposed 2017 capital budget.
Mike Zegarac stresses that the new debt is related to transit and west harbour projects where there is either a return on investment or it is leveraging funding from other levels of government.
He adds that those investments will help the municipality long-term in terms of funding those debts.
The proposed capital budget, which is to be approved in December, also calls for another $82 million to be spent on roads as the city continues to attack its infrastructure deficit.
Zegarac made his presentation to Hamilton councillors on Friday morning, largely overshadowed by Prime Minister Justin Trudeau’s visit to City Hall.