Oct 03, 2013
Standard and Poor's Rating Services (S&P) reaffirmed the City of Mississauga's 'AAA' credit rating, referring to the City's "strong economic fundamentals, very positive financial management and liquidity and low debt burden" in their assessment.
"Council and staff work hard to ensure our resources are managed and allocated carefully," said Gary Kent, commissioner, Corporate Services and chief financial officer. "This rating demonstrates the City’s continued commitment to good financial management."
S&P rated the City's outlook as stable over the next two years and credited Mississauga’s fiscal responsibility: "The City of Mississauga 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 services 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 focusing on delivering services, implementing its Strategic Plan, delivering value for money and maintaining infrastructure.