Summary: City of Mississauga Oct 11

  • ID: 1928358
  • October 2011
  • Standard & Poors
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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 required the city to draw from its substantial capital reserves and we expect that it will begin to issue debt as early as 2012 to...

Companies mentioned in this report are: City of Mississauga
Action: Affirmed

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City of Mississauga

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