S&P Global Ratings affirms Peel’s AAA (stable) rating
BRAMPTON, ON (Sept. 20, 2024) – On September 19, S&P Global Ratings (S&P) published an updated research report affirming Peel’s AAA credit rating with a stable outlook. This is the highest rating a municipal or regional government can receive. Peel has held a AAA credit rating with S&P since 2002.
Peel’s AAA credit rating is based on our strong governance framework and prudent financial management practices. This rating reflects our every-day commitment to managing tax dollars responsibly while delivering value-added, affordable services to residents and businesses today and over the long-term.
S&P stated that the stable outlook reflects “expectation that the region’s growing tax base, very strong operating surpluses, robust financial management and exceptional liquidity will continue to benefit its credit profile.” Further, Peel’s diverse economy is supported by growing immigration and benefits from proximity to the GTA.
S&P also highlights the following credit strengths for Peel:
- Very strong operating surpluses
- Robust financial management
- Exceptional liquidity
Despite recent regulatory changes, S&P highlights that Peel is no longer being dissolved and continue to view the overall institutional framework governing municipalities as strong.
Maintaining a high credit rating is in alignment with Regional Council’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 Peel Region’s 20–year Strategic Plan with a vision of building a Community for Life across Peel.
Quotations
For 22 years, S&P has recognized Peel’s exceptional financial management and planning with a AAA credit rating. We’ll continue to provide affordable services that reflect our every-day everyday commitment to managing tax dollars responsibly in Peel.
Davinder Valeri, Chief Financial Officer and Commissioner of Corporate Services
Media contact
Genevieve Ricciardella
Communication Specialist
Region of Peel
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.