News release: October 5, 2020
Region of Peel is One of Eight Canadian Municipalities to Receive Triple A Credit Rating by S&P Global Ratings
Triple A is the highest credit rating a municipal or regional government can achieve
S&P Global Ratings stated that the Region’s “recovering economy will continue to support regional revenues and healthy operating surpluses.” These were contributing factors to the Region’s Triple A credit rating. S&P Global Ratings also noted the following credit strengths for the Region:
- Prudent financial management, allowing it to keep generating healthy operating surpluses, despite pandemic-related operating pressures
- A diverse economy supports Peel's revenues; very strong management and institutional framework
- Expectation that the Region will continue to generate healthy operating surpluses in the next two years and that after-capital balances will remain positive on average for 2018-2022
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.
“This rating reflects the Region’s every-day commitment to managing tax dollars responsibly while delivering value-added, affordable services to residents and businesses today and over the long-term. 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,” said Nando Iannicca, Chair of the Regional Council.
Media contacts
Genevieve Ricciardella
Communication Specialist
Region of Peel
Tel: 905-965-5967
About Peel Region
In 2024, Peel Region marks its 50th anniversary. Peel Region works with residents and partners to create a healthy, safe, and connected Community for Life for approximately 1.5 million people and over 200,000 businesses in Brampton, Mississauga and Caledon. Peel's services touch the lives of residents every day. For more information explore peelregion.ca and follow us on X @regionofpeel and Instagram @peelregion.ca.
On December 13, 2023, the Ontario government announced that Peel Region will not be dissolved, and that Bill 112 legislation will be updated to reflect service delivery in Peel. Services for residents and businesses will continue without interruption. For updates and more information, visit Peel's transition page.
