On October 14, 2020, S&P Global Ratings released its Summary Issuer Credit Rating for the City of Hamilton at ‘AA+’ with a Stable outlook. The City of Hamilton has achieved ‘AA+’ credit rating and stable outlook each year since June 2017 when it received a credit rating upgrade from ‘AA’ to ‘AA+’. The rating of ‘AA+’ is the second highest possible rating on S&P’s rating scale with ‘AAA’ being the highest rating.
The rating agency expects that during the COVID-19 pandemic and recovery, the City of Hamilton’s creditworthiness is supported by higher levels of government and prudent financial management. Hamilton’s recovery is aided by our economic diversification. Fiscal performance is expected to be resilient due to pandemic-related restriction sand mitigation measures.
S&P Global Ratings mention the City’s strong management, strong fiscal performance, low debt and high liquidity as key rating strengths supporting its ‘AA+’ rating. For more information, please click here.