City of Hamilton retains 'AAA' credit rating for second year

HAMILTON, ON - On October 17, 2023, S&P Global Rating Agency advised that the City of Hamilton’s credit rating remains at ‘AAA’, indicating a continued stable outlook.

The City of Hamilton’s rating of ‘AAA’ is the highest possible rating on the S&P Global Ratings’ scale and builds on the City’s continued commitment to manage tax dollars responsibly and to sustainably deliver high-quality affordable services.

S&P Global Ratings cite in the report that over its forecast period from 2023 to 2025, it expects the City to have a relatively modest and stable debt burden and to continue to implement prudent long-term financial planning policies such that its budgetary performance remains strong. 

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.

Quick Facts

• On June 1, 2022, S&P raised the City of Hamilton’s credit rating from ‘AA+ ’ to ‘AAA’
• The City of Hamilton had achieved an ‘AA+’ credit rating and stable outlook each year since June 2017