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The City of Mississauga Receives “AAA” Credit Rating From Standard and Poor’s – Seven Years in a Row

Oct 21, 2010

For the seventh straight year, the City of Mississauga has received Standard and Poor’s highest credit rating of “AAA” status.

According to the credit rating agency, “AAA” status demonstrates the City’s strong capacity to meet financial commitments. In a report released yesterday, Standard and Poor’s attributed the City’s favourable rating to the City’s debt free status, its robust economy and strong financial flexibility.

“Mississauga is known for its history of financial stability,” said Janice Baker, City Manager and CAO. “Our ‘AAA’ status has been preserved due to our highly successful business planning and budget process.” She added, “Our process is a reflection of fiscal prudence aligned with strategic planning.”

As Canada’s sixth largest city, Mississauga is home to 734,000 residents and 55,000 businesses, including 63 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 one of Greater Toronto's Top 90 Employers for 2010. Enhancing its citizens’ quality of life by providing superior services, revitalizing its infrastructure and conserving the environment, Mississauga is committed to innovation, operational excellence and fiscal responsibility which is reflected in its motto: “Leading Today for Tomorrow.”

Media Contact:
Alexis Fung Fook
Public Affairs Consultant
Phone: 905-615-3200
TTY:    905-896-5151

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