Research Update: City of Brampton Rating Affirmed At 'AAA'; Outlook Stable

Strong underlying economy and investment interest support the City of Brampton's tax base, keeping projected operating results healthy and balances after-capital accounts in a surplus. Capital needs will spur additional borrowing in the next two years, bringing total debt outstanding to about 35% of projected operating revenues in 2024. We believe this remains in line with the current rating. Accordingly, S&P Global Ratings affirmed its 'AAA' long-term issuer credit rating on the City of Brampton. The stable outlook reflects our view that a growing local economy and prudent management will support strong financial results, with positive after-capital balances. We also expect the city's liquidity position will remain a key credit strength. On Oct. 13, 2022, S&P Global Ratings affirmed its

...- Strong underlying economy and investment interest support the City of Brampton's tax base, keeping projected operating results healthy and balances after-capital accounts in a surplus. - Capital needs will spur additional borrowing in the next two years, bringing total debt outstanding to about 35% of projected operating revenues in 2024. We believe this remains in line with the current rating. - Accordingly, S&P Global Ratings affirmed its '###' long-term issuer credit rating on the City of Brampton. - The stable outlook reflects our view that a growing local economy and prudent management will support strong financial results, with positive after-capital balances. We also expect the city's liquidity position will remain a key credit strength....

Research Update