Sep 19, 2008
Standard & Poor's Ratings Services assigned its 'AAA' credit rating on the City of
Mississauga for the fifth straight year, based on the Citys exceptional liquidity levels,
debt-free position, and strategically located economy.
According to Standard & Poor's, "Mississauga's long-standing debt-free position
continued into 2007, keeping the City well ahead of its domestic and international peers in
this regard. The stable outlook reflects our expectation that the City's economy will remain
robust, its planned debt issuances will not occur sooner than currently anticipated, its cash
balances will evolve in line with forecast, and its operating balances will not materially
deteriorate from current levels."
"Mississauga has a 30-year legacy of fiscal prudence and sound financial management,"
said City Manager Janice Baker. "Going forward, we are committed to building a sustainable
business and budget plan to ensure our City continues to prosper. This ranking recognizes the
hard work of Council and staff as leaders in municipal governance."
Internationally, outside the United States, there are only 13 'AAA' rated municipalities.
Mississauga is one of eight municipalities in Canada to earn the coveted 'AAA' rating by
Standard & Poor's. The stable outlook reflects the continuation of a strong and stable
economy for Mississauga.
Mississauga is Canada's sixth largest city with a population of more than 700,000. With
well-established infrastructure and state of the art facilities, the City is considered to be
an employer of choice, delivering quality municipal programs and services to its citizens.
Mississauga is a dynamic, diverse, and progressive municipality, known for its economic
strength and for being Canada's safest city.
Senior Communications Advisor, Community Services
Phone: 905-615-3200 x5051