The City of Mississauga has been assigned Standard & Poor’s Ratings Services ‘AAA’ credit rating for the sixth straight year, based on the City’s debt-free status, excellent liquidity, and robust economy. According to Standard & Poor’s, “Mississauga has remained steadfast in its approach to financing capital expenditures entirely on a pay-as-you-go basis, which is consistent with the fiscal policy it passed in 1996. It has adhered to the policy primarily by drawing on its substantial capital reserves. This has enabled Mississauga to stay debt-free, keeping it well ahead of its domestic and international peers in this regard.”
“The City of Mississauga has a long history of fiscal prudence and sound financial management,” said Janice Baker, City Manager and CAO. “Identifying ways to deliver services more efficiently and cost effectively is part of our business culture and has helped us maintain our AAA rating, despite the current economy.”
