This report supplements our research update "City of Brampton 'AAA' Rating Affirmed On Very Strong Economy And Exceptional Liquidity; Outlook Negative," published Feb. 26, 2015. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The rating on the City of Brampton, in the Province of Ontario, reflects Standard&Poor's Ratings Services' assessment of the city's very strong and well-diversified economy, exceptional liquidity, very strong budgetary performance, and strong budgetary flexibility on the revenue side. The rating also reflects our view of the "very predictable and well-balanced" local government framework, our opinion
