News Release: September 17, 2019
Region of Peel Triple A Credit rating reaffirmed for 24th consecutive year
The Region is one of eight Canadian municipalities with Triple A Credit Rating
Brampton, ON. (Sept. 17, 2019) – For the 24th consecutive year, S&P Global Ratings has reaffirmed the Region of Peel's Triple A credit rating. The Region of Peel is one of eight Canadian municipalities with a Triple A credit rating. This is the highest rating a municipal or regional government can achieve. As noted by S&P, the Region’s “experienced management team has the capability to implement the strategic plan and budget in line with a set of financial policies that we believe have broad political support”.
"A high credit rating provides access to lower long-term borrowing costs for the Region of Peel as well as Brampton, Caledon and Mississauga for investments in infrastructure such as water, wastewater, roads and affordable housing. A Triple A credit rating enables us to respond to the changing needs of our community while delivering high-quality, affordable services to Peel residents and businesses today and in the future," said Stephen VanOfwegen, Commissioner of Finance and Chief Financial Officer.
Maintaining a high credit rating is in alignment with the Region's Long Term Financial Planning Strategy (LTFPS), which guides Regional investments in services, programs and infrastructure to meet the needs of Peel residents, businesses and community partners today and in the future. It also supports the Region's 20-year Strategic Plan with a vision of building a Community for Life across Peel.
The Region of Peel works with residents and partners to create a healthy, safe and connected Community for Life for more than 1.5 million people and 175,000 businesses in the cities of Brampton and Mississauga and the Town of Caledon. Peel's services touch the lives of residents every day. Recognized as a leader in management and service delivery, the Region of Peel is the only government organization at any level to receive Excellence Canada's Platinum Award for Excellence, Innovation and Wellness®. For more information about the Region of Peel, explore peelregion.ca and follow us on Twitter at @regionofpeel.
Specialist, Corporate Communications
Region of Peel
905-791-7800, ext. 4672