BRAMPTON – 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.
“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 of Brampton