BRAMPTON, ON – Standard & Poor’s (S&P) today affirmed the City of Brampton’s Triple 'A' rating. Along with the credit rating, S&P has issued a ‘Stable’ outlook for the City of Brampton. Triple 'A' is the highest credit rating a municipality can receive and according to Standard & Poor’s (S&P), the rating reflects the City’s solid financial management.
Highlights:
According to S&P, 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.
• Strong economy: Brampton benefits from a very strong and well-diversified economy, and good socioeconomic and demographic characteristics.
Quote:
“This strong rating reflects the City’s continued focus on good municipal governance and accountability to residents. 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.”
- Brampton Mayor Linda Jeffrey
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Brampton is thinking bigger. We are a future ready organization with a sharp focus. We know our community’s growth, youth and diversity set us apart. We sit at the centre of Canada’s innovation super corridor, encouraging investment and growing our global success. We are building vibrant urban centres that ignite opportunity and instill pride in the people who live and work here. We are moving Brampton forward to be a connected city that is innovative, inclusive and bold. Follow us on
Twitter,
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Instagram. Learn more at
www.brampton.ca.
