Home City-Watch City of Laval receives ‘AA’ score from S&P Global Ratings

City of Laval receives ‘AA’ score from S&P Global Ratings

In a report released on Nov. 22, the U.S.-based credit rating agency Standard & Poors (S&P) Global Ratings said it was maintaining the City of Laval’s “AA” rating.

In a statement, the city says that S&P confirmed that the observable dynamics, the expected strong growth of economic activity and the sound financial management of the city were factors that favoured maintaining Laval’s credit score.

A stable economy

The report also notes that the diversity of economic sectors active on Laval’s territory was a factor in helping to keep Laval’s economy stable while attenuating any potential volatility.

“Beyond the numbers, this outcome allows us to take advantage of some very real benefits for all Laval residents, such as an excellent credit rating,” said Mayor Stéphane Boyer. “For several years, we are in excellent shape financially, and this is something we can be proud of.”

Restarting the economy

Duvernay–Pont-Viau city councillor Christiane Poirier, who sits on the executive-committee with responsibilities for economic development, commented, “Our sound management of public funds allowed us to be there for local businesses while the pandemic was striking a number of industries. This good result shows our commitment to pushing forward the Laval business community so that it can reap the benefits of a robust economic restart.”

According to the city, each year it goes to great efforts to be as transparent as possible to publicly account for all its investments and expenses. “The rating accorded by S&P Global Ratings demonstrates that the City of Laval has the capacity to respect its commitments while ensuring that the level of debt remains predictable and under control,” city officials said in a statement.

Laval executive-committee approves purchase of more woodlands

During a meeting on Nov. 24, the members of the City of Laval’s executive-committee approved the purchase of three wooded lots in several districts of Laval in order to add to the city’s growing inventory of woodlands and green space.

In keeping with the city’s plan for improving and conserving Laval’s natural areas, the executive-committee members gave the go-ahead for a disbursement of $213,200 for the purchase of the lots.

More green space added

Some of the lots in question are located in the City of Laval’s Val-des-Arbres district and are part of a wooded area measuring more than a hectare which has several wetlands. Another lot, located in the Auteuil woods near the Rivière-des-Mille-Îles, is also part of an area that conservationists and the city have had their eyes on for some time.

The acquisitions are taking place as part of a greater Montreal regional plan, known as the Trame verte et bleue, which is aimed at carefully planning the preservation of natural spaces and biodiversity in the Montreal region, while taking into account the impacts of climate change at the same time.

Who’s on the executive-committee?

The City of Laval’s executive-committee meets weekly to make decisions on a range of issues. The committee’s lead members are Mayor Stéphane Boyer and Sainte-Dorothée councillor Ray Khalil (vice-president).

Regular members are Concorde–Bois-de-Boulogne councillor Sandra Desmeules, Duvernay–Pont-Viau councillor Christine Poirier, Laval-les-Îles councillor Nicholas Borne, followed by associate members Saint-Martin council Aline Dib, Souvenir-Labelle councillor Sandra El-Helou, and Laval-des-Rapides councillor Alexandre Warnet.

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