Moody's: Low debt burden for Vancouver

In its annual report on the City of Vancouver, Moody's Investors Service said that the its Aaa rating reflects consistent, positive financial results and a low debt burden prior to the Olympic Village event.

The rating and the negative outlook also incorporate an assessment of Vancouver's risk exposure related to the financing of the Olympic Village for the 2010 Winter Games, the agency said.

The city has historically recorded strong operating results, in the order of roughly 15% of operating revenues, Moody's said, and has generated positive cash financing surpluses.

The structural alignment of revenues and expenses is supported by the city's use of a multi-year planning horizon, which helps to ensure discipline and contain expenses within available revenues, the agency said.

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