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AAA Credit Rating for City of Mississauga Ninth Year Running

Oct 04, 2012

Standard and Poor’s Rating Services (S&P) reconfirmed the City of Mississauga’s ‘AAA’ credit rating, referring to the City’s “continued debt-free status, very strong liquidity and diverse economy” as strengths.
                                                                  
“This rating demonstrates the City’s commitment to fiscal responsibility,” said Brenda Breault, commissioner, Corporate Services and treasurer. “This is primarily because of our solid business planning and budget process. Council and staff work hard to ensure our resources are managed and allocated carefully.”
 
S&P also rated the City’s outlook as stable over the next two years: “Mississauga's financial management is excellent and has a very positive impact on credit quality. The city has a robust set of financial policies, including a recently approved debt policy that sets out which capital projects are eligible for debt-financing and establishes debt service limits.”
 
For more information, visit standardandpoors.com.
 
As Canada's sixth largest city, Mississauga is home to 741,000 residents and more than 54,000 businesses, including more than 60 Fortune 500 companies with Canadian head offices or major divisional head offices. A diverse, progressive and award-winning municipality located on the shores of Lake Ontario in the heart of the Greater Toronto Area, Mississauga is "Leading Today for Tomorrow" by focussing on delivering services, implementing its Strategic Plan, delivering value for money and maintaining infrastructure.



Media Contact:
Alexis Fung Fook
Public Affairs Consultant
Phone: 905-615-3200
TTY:    905-896-5151
Email:   alexis.fungfook@mississauga.ca

 






Media Contact:
Alexis Fung Fook
Public Affairs Consultant
Phone: 905-615-3200
TTY:    905-896-5151
Email:   alexis.fungfook@mississauga.ca


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