City of Brampton

This report does not constitute a rating action. Overview Credit context and assumptions Base-case expectations Dynamic economy and strong management bode well for the City of Brampton?s creditworthiness during the COVID-19 pandemic. Budgetary performance will weaken modestly but remain robust in the next two years as operations begin to normalize and pandemic-related funding subsides. --Strong economic rebound to date reflects the city?s healthy growth potential. --Cost containment and emergency funding from senior levels of government to date have kept the city?s operating results healthy and stable. --We expect financial management practices will remain prudent and supportive of the city?s growth needs. --We expect the city will proceed with its growth-driven capital program as planned, keeping its after-capital balances in a

...S&P Global Ratings' long-term issuer credit rating on the City of Brampton is `###'. The city's economic picture is brightening as many social distancing restrictions have eased with high vaccination levels. Key sectors, such as logistics and manufacturing, are performing well and we expect Brampton will remain a place of strong investment potential and development activity. Financial results remain healthy and stable, with the operating balance continuing to average more than 10% of operating revenues. Proactive management response and extraordinary support from senior levels of government to date have largely negated any pandemic- driven shortfalls. We expect management practices will remain prudent and reflective of the city's growth needs and maintenance requirements. Brampton's capital plan is spurring debt growth in the next two years, inching closer to 30% of operating revenues, while liquidity remains a key credit strength....

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