Standard and Poor’s Rating Services (S&P) reaffirmed the City of Mississauga’s ‘AAA’ credit rating, mentioning the City’s “very strong, diversified economy, exceptional liquidity and very low debt burden” in their assessment. This is Mississauga’s 12th consecutive year receiving the ‘AAA’ credit rating.
S&P added that Mississauga’s competitive tax rates, proximity to major markets and extensive transportation network have enhanced its economy and helped attract and retain investment.
S&P states in its report that the City of Mississauga’s credit profile benefits from having a robust set of financial policies. It acclaims the City’s “very good budgeting practices, with multiyear business plans that are updated annually, and operating budgets that are detailed out one year in addition to a three-year outlook. S&P also rated the City’s outlook as stable.
For the official news release, please click here.
To learn more about City of Mississauga finances, visit mississauga.ca/portal/cityhall/financereports.