City of Hamilton credit rating affirmed at ‘AA+’ with ‘Stable’ outlook

HAMILTON, ON - On November 8, 2018, S&P Global Ratings released its most recent research update affirming its ‘AA+’ long-term issuer credit and senior unsecured debt ratings on the City of Hamilton with a stable outlook.

The City of Hamilton has achieved an ‘AA+’ credit rating and stable outlook since June 2017. This rating builds on the City’s continued commitment to manage tax dollars responsibly and to sustainably deliver high-quality affordable services.

“Our City has once again achieved a “AA+” credit rating from S&P Global Ratings. Improved fiscal management from council and city staff indicates our debt has been managed well and that we are making key infrastructure investments which will have a positive effect on future increased tax revenues. This acknowledgment from S&P Global Ratings is encouraging, as we continue to make Hamilton the best place to raise a child and age successfully.”

Mayor Fred Eisenberger

S&P Global Ratings highlights the City’s moderately growing economy and solid management as well as the City’s high and increasing operating surpluses, modest deficits after capital spending, large internal liquidity levels and low debt burden.

The City’s credit rating by S&P for the past 10 years is as follows:

• 2018 AA+
• 2017 AA+
• 2016 AA /Positive
• 2008-2015 AA

The City’s approach to financial management is based on ensuring strategic and sustainable investments in services, programs and infrastructure in order to meet the needs of our residents, businesses and community partners for today and in the future.

Additional Resources

• 2018 S&P Global Ratings Credit Review Committee Report
• 2018 S&P Global Ratings Credit Review Report