Mississauga earns prestigious ‘AAA’ credit rating from Standard and Poor for the 21st consecutive year

Standard & Poor Global Ratings (S&P), a leading provider of credit ratings, research, and risk analysis, has assigned The City of Mississauga an ‘AAA’ credit rating, the highest rating that can be received, and includes a stable outlook for the City’s future. This rating reflects the City’s strong financial management practices and effective budgeting processes, which are designed to ensure long-term fiscal sustainability in a growing economy.

What does this mean for residents

This rating reflects our commitment to strategically reinvest property taxes and enhance the quality of life for our residents. The S&P report highlighted that Mississauga’s strong economy and high per capita GDP, will continue to meet expanding service needs despite slower economic growth. S&P expects that Mississauga will use available revenue tools to manage a growing cost base and maintain healthy and stable operating results in the next two years.

S&P also points to Mississauga’s proximity to major markets, as well as its extensive transportation infrastructure—including Canada’s busiest airport, two national railways, and five of the country’s busiest highways which continue to bolster its economy and attract investment.

The report highlighted the strength of Mississauga’s management team, which is highly qualified and experienced in implementing effective fiscal policies and responding to external risks. S&P’s report also acknowledged the City’s clear and transparent financial disclosure, strong budgeting practices, which include annual updates to multi-year business plans and a detailed operating budget with a three-year outlook.

To learn more about the City of Mississauga’s finances, visit mississauga.ca/financereports.

About S&P Global Ratings

In 26 countries around the world and a history that dates back more than 150 years, S&P Global Ratings provides high-quality market intelligence in the form of credit ratings, research and thought leadership. An S&P Global Ratings issuer credit rating is a forward-looking opinion about an obligor’s overall creditworthiness. ‘AAA’ is the highest issuer credit rating assigned by S&P Global Ratings.

Quotes

“Mississauga has long been recognized for its strong and effective financial management. We ensure that every dollar collected from property taxes is strategically reinvested to enhance the quality of life for our residents and support our businesses. Our financial leadership remains focused on guiding the city responsibly into the future. Achieving an AAA credit rating is a powerful affirmation of our fiscal discipline and positioning Mississauga as a leading city to live, work, and invest in.” – Mayor Carolyn Parrish, City of Mississauga

“Mississauga’s AAA credit rating, including a stable outlook for our future, underscores the strength of the City’s commitment to long-term fiscal sustainability and financial planning. This rating not only reflects the City’s sound budgeting practices but also its ability to navigate economic fluctuations while investing in areas that matter most to residents. Mississauga’s robust infrastructure and strategic location continue to position it as an attractive hub for investment, ensuring sustained growth and stability for the future.” – Marisa Chiu, Director, Finance and Treasurer, City of Mississauga

Tags

• Awards and Recognition
• Budget and Taxes
• Finance and Revenue