Strength in the local economy and prudent financial management support the City of Brampton's creditworthiness despite uncertainty about the dissolution of the Regional Municipality of Peel and recent legislative changes to municipal collection of development charges in Ontario. Although the impact of both could pressure Brampton's debt burden and available funding for capital, we believe the city has robust liquidity and dedicated reserves to accommodate the needs of its expanding economy. Accordingly, S&P Global Ratings affirmed its 'AAA' long-term issuer credit rating on Brampton. The stable outlook reflects our view that the growing local economy and prudent management will support the city's solid financial results. We also expect the city's liquidity position to remain a key credit strength. On Oct.
