Standard and Poor’s (S&P) affirmed the City of Brampton’s triple-A credit rating, along with issuing a stable outlook for the municipality.
Triple-A is the highest credit rating a municipality can receive and according to S&P, the rating reflects the city’s solid financial management.
The rating is due to a number of factors including: strong financial management practices; continuing focus on improving control systems; and transparent, easy-to-access disclosure; exceptional liquidity. Brampton’s strong operating balances point to a robust cash flow capability, well above debt service requirements and stronger than that of its peers. As well, Brampton benefits from a very strong and well-diversified economy and good socioeconomic and demographic characteristics.
“This strong rating reflects the city’s continued focus on good municipal governance and accountability to residents,” said Mayor Linda Jeffrey. “Brampton is well-positioned to move forward in making the necessary investments to transform our downtown and, beyond that, build the connected, inclusive, innovative and bold Brampton described in the 2040 Vision.”
S&P reaffirmed the City of Mississauga and the Region of Peel’s triple-A ratings in September.