This report supplements our research update "City of Brampton 'AAA' Rating Affirmed; Outlook Is Stable," published on Oct. 24, 2016. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The rating reflects S&P Global Ratings' assessment of the city's very strong and well-diversified economy, exceptional liquidity, very strong budgetary performance, and strong revenue-side budgetary flexibility. The rating also reflects our view of the very predictable and well-balanced local government framework, our opinion of the positive impact of Brampton's strong financial management on its credit profile, and the city's very low debt and
