Mississauga has held onto the highest credit rating possible, as Standard & Poor's Global Ratings awarded the city a AAA designation for the 23rd consecutive year.
The rating comes with a stable outlook and reflects what S&P described as the city's strong financial position, careful budgeting and preparedness for growth and new responsibilities, according to a City of Mississauga news release.
S&P's report points to the city's management of revenues and spending even amid economic uncertainty, and its ability to fund infrastructure renewal and housing growth through a combination of reserves, responsible debt financing and funding from other levels of government.
Economy and location cited as strengths
The report highlights Mississauga's ability to keep attracting business investment despite trade-related pressures affecting investment across Canada, with particular strength in manufacturing, life sciences and technology.
S&P also credited the city's diversified economy, resilient property tax base and strong household incomes as factors supporting long-term financial stability. Mississauga's strategic location — including Canada's busiest airport, two national railways and five major highways — continues to strengthen its standing as an economic centre, the report notes.
Readiness for the 2027 Peel transition
S&P found the city is well positioned to take on new municipal responsibilities tied to the dissolution of Peel Region in 2027, including waste collection and regional roads. The report indicates those changes are expected to be revenue neutral for the city, supported by continued revenue growth and strong operating performance.
The agency projects Mississauga will keep managing its budget and property tax increases responsibly, maintaining reserve balances above 10 per cent of annual operating revenue.
S&P also recognized the city's experienced leadership team and its long-term planning practices, including regular updates to multi-year business plans, a three-year operating budget outlook and a 10-year capital plan.
More than two decades of strong financial performance have strengthened Mississauga's position in Canada and with investors around the world. The City continues to take a strategic and proactive approach to financial management, helping us earn the highest possible credit rating. Despite national economic challenges, Mississauga remained focused on delivering the best value for taxpayer dollars. By investing wisely and advocating for funding from all levels of government, the City continues to uphold a strong economy for residents, businesses and investors.
That statement comes from Geoff Wright, the city's manager and chief administrative officer, in the City of Mississauga news release.
Once again, Mississauga has earned a 'AAA' credit rating and stable outlook, highlighting our strong financial position, long-term fiscal sustainability and sound financial planning. This rating shows we are on the right track with our budgeting and investment decisions. These strengths help deliver what our audiences want: tax dollar value for residents, a nurturing economy for businesses and a stable city to boost investor confidence. As the City takes on more regional services next year, we will continue to focus on responsible financial planning.
The comment is from Marisa Chiu, the city's commissioner of corporate services, chief financial officer and treasurer. AAA is the highest issuer credit rating assigned by S&P Global Ratings, which operates in 26 countries and traces its history back more than 150 years.
Residents can review the city's financial documents at mississauga.ca/financereports.
