BRAMPTON, ON (October 25, 2023) – S&P Global Ratings has once again awarded the City of Brampton its prestigious AAA credit rating for an eighth consecutive year. This rating is the highest credit rating attainable for a municipality and underscores Brampton's unwavering commitment to transparent and responsible fiscal management.
Credit ratings are global economic tools used by investors and other market participants when considering partnering to provide funding. When issuing credit ratings, S&P Global Ratings analyzes key factors including economic fundamentals, borrowing, and stability and growth.
Brampton’s AAA credit rating contributes to enhancing the City’s ability to attract investments and public-private partnerships that enable growth, create jobs, develop resilient infrastructure, and provide vital services.
Key highlights from the S&P Global Rating report:
• Compared with its peers, Brampton has strong socioeconomic and demographic characteristics, a younger-than-national-average population, sounder population growth, and a diversified economy that benefits from its advantageous location near major highways and central markets.
• Brampton continues to meet the high demand for industrial land by building out infrastructure. It continues to attract new businesses and many existing ones are expanding.
• Brampton has strong financial management practices. It has infrastructure and transit levies and dedicated contributions to several reserves and reserve funds built into the operating budget, such as a debt service.
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“Brampton is a strong and growing City and we take great pride in our eighth consecutive year of maintaining a AAA credit rating, further reaffirming our dedication to the well-being of our residents and taxpayers. This endorsement from S&P demonstrates our steadfast commitment to transparency, fiscal responsibility, and our focus on economic growth. We will continue to create the conditions that foster prosperity for everyone in Brampton.”
- Patrick Brown, Mayor, City of Brampton
“As we head into the 2024 budget season, this credit rating reflects our commitment to building a strong City through transparency and fiscal responsibility. We are honoured to once again be recognized by S&P Global Ratings with a AAA credit rating and remain committed to meeting the evolving needs of our community with openness and collaboration.”
- Harkirat Singh, Deputy Mayor; City Councillor, Wards 9 & 10; Chair, Corporate Services, City of Brampton
“Each day the dedicated staff of the City of Brampton work tirelessly to ensure a solid fiscal foundation to address our community's needs, and we are grateful for their efforts. Our finance staff have built a strong and attractive reputation for Brampton as a well-managed city and an excellent place to invest, which is underscored by S&P's renewed endorsement.”
- Marlon Kallideen, Chief Administrative Officer, City of Brampton
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As one of the fastest-growing cities in Canada, Brampton is home to nearly 700,000 people and more than 90,000 businesses. People are at the heart of everything we do. We are energized by our diverse communities, we attract investment, and we are embarking on a journey to lead technological and environmental innovation. We partner for progress to build a healthy city that is safe, sustainable, and successful. Connect with us on Twitter, Facebook,
and Instagram.
Learn more at www.brampton.ca
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