For the fifth consecutive year, S&P Global Ratings has confirmed the City of Laval’s AA+ credit rating, recognizing the strength of its economy and the rigor and prudence of its financial management, despite an economic context marked by widespread infrastructure cost increases and tariff uncertainty.
The rating, the highest awarded to a municipality in Quebec, “is further proof of Laval’s best practices in governance and fiscal discipline,” the city says in a statement issued last week.
Ensuring a balance
“The prudence and discipline that guide the City’s financial decisions have ensured a balance between structural investments and debt control,” said Mayor Stéphane Boyer.
“After delivering long-awaited sports, cultural, and community infrastructure projects to Laval residents, we are now focusing our efforts on upgrading our municipal assets,” he added.
According to the mayor, the City of Laval faces numerous financial challenges in the coming years, “and we must make the necessary responsible decisions to ensure we continue to provide excellent service to the public while maintaining sound financial health,” Boyer said.
The credit rating agency noted Laval’s responsible use of municipal reserves and a controlled adjustment of debt financing to support development priorities.
A diversified economy
The city notes that Laval remains one of Quebec’s most dynamic economies, distinguished by its robust and diversified economy, stable governance supported by clear financial policies, a predictable and favourable institutional framework and excellent access to financial markets.
While the city says it continues efforts to consolidate its financial position and ensure the sustainability of municipal finances without compromising the quality of services provided to the public, it says it remains fully aware of the various scenarios presented by S&P Global Ratings for the coming years.
“With its rigorous planning, Laval intends to pursue proactive management of its liquidity and responsible optimization of its debt, in order to support the confidence of financial institutions and sustainable budgetary stability,” says the city.
Laval donates a record amount to Centraide
The 27th annual United Way campaign for active and retired City of Laval employees surpassed last year’s total and the ambitious goal of $421,000. The mobilization of 801 City of Laval employees resulted in a donation of $428,534 to United Way of Greater Montreal.
“In a context of numerous challenges, the solidarity and collaboration of the City’s teams made all the difference,” said Aline Dib, City Councillor for Saint-Martin. “Their remarkable commitment reflects a sincere desire to support those most in need. I express my deepest gratitude for this exemplary generosity.”
Under the co-chairmanship of Mathieu Monfet, Director of the Environment Department, and Tania Fonrose, Director of the Citizen Experience Department, the 2025 campaign was distinguished by strong participation and several community-building activities. Among these initiatives, we note the City of Laval’s first-ever participation in the Centraide Soccer Cup.
In Laval, Centraide assists nearly 88,000 people annually. In 2024 and 2025, Centraide supported 26 Laval community organizations equipped to create a significant and lasting impact on the lives of vulnerable individuals.
New roles for elected officials in Laval
At a special meeting of City Council on December 2, Mayor Stéphane Boyer, accompanied by the 22 City Councillors of Laval, appointed associate members to the Executive Committee and the boards of directors of various municipal bodies.
“I am pleased to be able to count on experienced individuals, who are well-versed in municipal administration, to successfully manage the priority files for the residents of Laval: maintaining the city’s financial health, initiating the general upgrading of our infrastructure, continuing our extensive efficiency project, and accelerating the construction of affordable housing,” said the mayor.
The Executive Committee, composed of Mayor Stéphane Boyer, Ray Khalil (Vice-President), Christine Poirier, Nicholas Borne, and Flavia Alexandra Novac, welcomed four associate members. These councillors, appointed by City Council on the Mayor’s recommendation, support the work of the committee.
Associate members of the executive committee for the 2025-2029 term:
Aline Dib (Saint-Martin);
Sandra El-Helou (Souvenir-Labelle);
Yannick Langlois (L’Orée-des-Bois);
Mohamed Bâ (Le Carrefour)
Laval Transit Corporation (STL) Board of Directors:
Pierre Brabant (Vimont) is appointed Chair of the STL Board. He will be joined by Vasilios Karidogiannis (L’Abord-à-Plouffe) as Vice-Chair, and Martin Fiola (Laval-des-Rapides), Seta Topouzian (Renaud-Coursol), and Sylvain Yelle (Auteuil).
Other appointments:
Governance Committee:
Aline Dib (Saint-Martin), Carole St-Denis (Champfleury), Louise Lortie (Marc-Aurèle-Fortin), Cecilia Macedo (Marigot), Aglaia Revelakis (Chomedey)
Board of Directors of La Cité de la culture et du sport de Laval
Christine Poirier (Pont-Viau), Martin Fiola (Laval-des-Rapides)
Municipal Housing Office;
Sandra El-Helou (Souvenir-Labelle), Flavia Alexandra Novac (Sainte-Rose)
Urban Planning Advisory Committee (CCU);
Yannick Langlois (L’Orée-des-Bois), Seta Topouzian (Renaud-Coursol), Anick Brunet (Duvernay), Ray Khalil (Sainte-Dorothée)
Environmental Advisory Committee
Carole St-Denis (Champfleury), Mohamed Bâ (Le Carrefour)
Transportation and Sustainable Mobility Committee
Vasilios Karidogiannis (L’Abord-à-Plouffe), Sylvain Yelle (Auteuil), Seta Topouzian (Renaud-Coursol)
Audit Committee
Yannick Langlois (L’Orée-des-Bois), Anick Brunet (Duvernay), Martin Fiola (Laval-des-Rapides), Sylvain Yelle (Auteuil)
Pension Plan
Martin Fiola (Laval-des-Rapides), Chair of the Pension Committee
Public Resources Coordination Committee
Aline Dib (Saint-Martin), Anick Brunet (Duvernay), Annick Senghor (Saint-Vincent-de-Paul)
Montreal Metropolitan Community (CMM);
Carole St-Denis and Annick Senghor (Board Members)
Anick Brunet, Carole St-Denis, Martin Fiola, Sandra El-Helou, Vasilios Karidogiannis, and Sylvain Yelle (Committee and Commission Members)
Union of Quebec Municipalities (UMQ);
Carole St-Denis (Champfleury)
Federation of Canadian Municipalities (FCM);
Seta Topouzian (Renaud-Coursol), Director;
Laval Tourism
Annick Senghor (Saint-Vincent-de-Paul);
Montreal International
Martin Fiola (Laval-des-Rapides) Other appointments will be finalized in the coming weeks.
