BRAMPTON, ON (October 15, 2024) – S&P Global Ratings has reaffirmed the City of Brampton’s prestigious AAA credit rating with a stable outlook for the ninth year in a row. This rating, the highest attainable for a municipality, underscores Brampton’s commitment to prudent financial management, strong economic growth and commitment to fiscal responsibility.
S&P Global’s report highlights Brampton’s expanding economy, solid financial management and robust liquidity position. The City’s low debt burden and well-managed reserves, which continue to support capital projects and maintain financial resilience in response to ongoing population growth and infrastructure needs.
Key highlights from the S&P Global Ratings report:
- Strong financial management: Brampton benefits from very strong financial management practices, including infrastructure and transit levies and dedicated contributions to reserves such as infrastructure, transit and stormwater funds. These practices ensure long-term fiscal sustainability.
- Expanding economy: Brampton’s socio-economic and demographic strengths are driving its rapid growth. With 10% population growth since the last Census, the City benefits from its advantageous location near major highways and markets. Brampton continues to meet demand for industrial land, attracting new businesses and supporting the expansion of existing ones.
- Stable outlook: S&P Global expects Brampton’s strong management and expanding local economy will continue to deliver solid financial results over the next two years. The City’s liquidity position remains a key strength supporting this stable outlook.
The AAA credit rating enhances Brampton’s ability to attract investments and public-private partnerships, enabling the development of infrastructure, job creation and improved services for residents.
Brampton’s strong financial standing ensures it is positioned well to meet the needs of its growing community while fostering economic resilience and long-term prosperity.
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“Our AAA credit rating is a testament to Brampton’s strategic approach to growth and financial management. As the fastest-growing big city in Canada, we are committed to maintaining fiscal responsibility while investing in infrastructure, creating jobs and delivering quality services that benefit our residents. This rating reinforces our ability to attract investment and build a bright future for Brampton.” - Patrick Brown, Mayor, City of Brampton
“This reaffirmation of Brampton’s AAA credit rating reflects our City’s strong leadership and long-term planning. With a growing population and an expanding economy, we are building a resilient community where businesses can thrive and residents have access to world-class services. Our sound financial practices allow us to keep moving Brampton forward.” - Harkirat Singh, Deputy Mayor, City Councillor Wards 9 & 10, Chair of Corporate Services Committee
“Maintaining a AAA credit rating for nine consecutive years highlights our dedication to fiscal prudence and forward-thinking planning. Brampton’s solid financial foundation positions us well to meet the needs of our community as we continue to grow and invest in key priorities. We will remain focused on ensuring sustainable growth and financial stability for years to come.” - Marlon Kallideen, Chief Administrative Officer, City of Brampton
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As one of the fastest-growing cities in Canada, Brampton is home to nearly
700,000 people and more than 100,000 businesses. People are at the heart of everything we do. We are energized by our diverse communities, we attract investment, and we are embarking on a journey to lead technological and environmental innovation. We partner for progress to build a healthy city that is safe, sustainable, and successful. Connect with us on
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