Sep 15, 2017
The City of Mississauga has once again earned top marks for financial management, maintaining its 'AAA' Credit Rating from Standard and Poor's Rating Services (S&P) for 14 straight years. S&P rated the City's outlook as stable.
According to the report, "Mississauga's competitive tax rates, proximity to major markets and extensive transportation infrastructure network have aided its economy and helped attract and retain investment."
The following sectors provided a boost to Mississauga's economy: life sciences, advanced manufacturing, financial services and information and communication technology.
S&P also added "We believe that continued growth and diversification will further strengthen the City's economy and help it weather tough economic cycles."
"As the sixth largest city in Canada, Mississauga continues to be fiscally responsible while setting high standards in the municipal sector," said Gary Kent, Commissioner of Corporate Services and Chief Financial Officer. "Each year, Council and staff commit to maintain the City's strong financial position, while delivering value for money for residents and businesses. It's pleasing to see that S&P acknowledges our strong financial and budgeting practices and our level of openness and transparency."
The report also states that an exceptional liquidity position added to the City's strengths.
For more information, visit standardandpoors.com.
To learn more about the City of Mississauga's finances, visit mississauga.ca/financereports
Communications Advisor (A)
905-615-3200 ext. 5934