The quality of STM’s credit rating acknowledged by Moody’s for fourth year in a row
For a fourth consecutive year, Moody’s has upheld the high quality credit rating given to the Société de transport de Montréal (STM), that is Aa2 with a stable outlook.
The ratings firm thus acknowledges the quality, efficiency and performance of STM’s financial management, despite a period of global financial instability. The firm also notes the commitment to public transportation by governments and the Montréal Agglomeration. In 2011, the STM’s ridership hit 404.8 million passenger rides, a record unmatched at any time in the history of public transit in Montréal. That performance is among the factors noted by Moody’s that allowed the STM to maintain its rating.
The STM is pleased that the ratings firm is upholding its credit rating, in light of upcoming major expenditures related to the purchase of new métro cars over the next three years. The chairman of the STM board, Michel Labrecque, beamed with pride at hearing the news, as it confirmed both the corporation’s sound financial management and the remarkable work achieved by its employees
– 30 –