We are affirming our 'AAA' long-term issuer credit rating on the City of Brampton. In part, the rating reflects our opinion of Brampton's very strong economy and budgetary performance, very low debt burden, and exceptional liquidity. The stable outlook reflects our expectation that, in the next two years, Brampton's financial management will remain strong, and the city will not issue material external debt such that our measure of tax-supported debt will remain less than 30% of adjusted operating revenues. On Oct. 24, 2016, S&P Global Ratings affirmed its 'AAA' long-term issuer credit rating on the City of Brampton, in the Province of Ontario. The outlook is stable. The rating reflects S&P Global Ratings' assessment of the city's very strong and
