Hamilton’s credit rating has been given a boost.
Standard & Poor’s has raised the city’s credit rating from AA to AA+ based on what it calls a “strong budgetary performance and stable outlook.”
S&P says the new credit rating reflects Hamilton’s high rankings in almost all categories, including our economy, financial management and budgetary flexibility.
“This is a welcome vote of confidence in the City of Hamilton, ” said Hamilton Mayor Fred Eisenberger.
“This report underlines that the City of Hamilton benefits from strong financial management allowing us to keep tax increases low while properly funding the city’s infrastructure needs to ensure that our diversified economy continues to steadily grow,” he said. “The people of Hamilton can be assured that their city is in good financial hands.”
Standard and Poor’s says among the credit ratings of 12 Ontario municipalities rated from AA to AAA, Hamilton ranked fourth overall, behind only Durham, Halton and Peel.
Hamilton is ranked higher than Guelph, York, Barrie, Kingston, Niagara, Ottawa, Toronto and Windsor.