Monday, September 04, 2006

S&P rates Mississauga "AAA" for the third straight year!

Mississauga gets 'AAA' for effort

Aug 24, 2006

Standard & Poor's Ratings Services assigned its 'AAA' credit rating on the City of Mississauga for the third straight year, based on the City's exceptional liquidity levels, debt-free position, and strategically located economy.

According to S&P, "Mississauga's debt-free tradition continued into 2005; placing the City ahead of its domestic and international peers with respect to debt burden. This was largely made possible through the City's large cash and investment holdings, allowing it to finance its capital programs on a pay-as-you-go basis." "This rating further enhances the City's profile in the financial sector," said City manager Janice Baker. "We have been successful at keeping tax increases to a minimum for many years and we are fortunate to be debt-free."

Outside the U.S., Mississauga is only the 9th municipality to earn the coveted 'AAA' rating. The stable outlook reflects the continuation of a strong and stable economy, and is based on the prospect that there will be no deterioration in operating balances. Courtesy of the Mississauga Business Times

For more information please contact A. Mark Argentino

A. Mark Argentino Associate Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS 905-828-3434
FAX 905-828-2829

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