City of Mississauga Oct 11
Standard & Poors, October 2011
Abstract
No debt Strong and diversifying economy Very strong liquidity Slightly weaker operating performance than those of peers Likelihood of debt issuances in the near-to-medium term The rating on the City of Mississauga, in the Province of Ontario (AA-/Stable/A-1+), reflects Standard & Poor's opinion of the city's debt-free status, strong and diversifying economy, and very strong liquidity. In our opinion, Mississauga's operating performance, which remains slightly weaker than its similarly rated peers, and our expectation that the city will begin to issue debt in the near-to-medium term partially offset these strengths. A pillar of Mississauga's exemplary credit strength remains its debt-free status, which it has achieved through financing capital expenditures entirely on a pay-as-you-go basis. Lower growth-driven revenue in recent years...
Companies mentioned in this report are: City of Mississauga
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
City of Mississauga
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