...The rating reflects S&P Global Ratings' assessment of the city's very strong and well-diversified economy, exceptional liquidity, very strong budgetary performance, and strong revenue-side budgetary flexibility. The rating also reflects our view of the very predictable and well-balanced local government framework, our opinion of the positive impact of Brampton's strong financial management on its credit profile, and the city's very low debt and contingent liabilities. We believe that restricted expenditure flexibility mitigates these strengths somewhat. We estimate that Brampton's economy is very strong, and that it generated GDP per capita close to the provincial average of about US$45,500 for 2013-2015. We view the city's economy as dynamic and well-diversified, which robust population growth supports. Main economic sectors include manufacturing, transportation and warehousing, and retail, with no significant concentration in any sector. We believe that Brampton's competitive tax rates,...
