We expect the City of Brampton will post small after-capital deficits through 2027 due to its ongoing capital program. This will modestly increase the city's debt burden but debt will remain low compared with that of peers. We believe Brampton?s expanding economy will support solid financial performance over the next two years. Accordingly, S&P Global Ratings affirmed its 'AAA' long-term issuer credit rating on Brampton. The stable outlook reflects our expectation that prudent management and a growing economy will support the city's solid financial performance. We also expect Brampton's liquidity position will remain a key credit strength. On Oct. 27, 2025, S&P Global Ratings affirmed its 'AAA' long-term issuer credit rating on the City of Brampton, in the Province of
