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April 5th, 2013 – FOR IMMEDIATE RELEASE

Brandon, MB – The City of Brandon has maintained its very strong global credit rating of “AA-“, a recent research update from Standard and Poor’s Rating Service has confirmed.

The research update from Standard and Poor’s once again affirmed Brandon’s long-term issuer credit and senior unsecured debt ratings based on its “continued good economy and operating performance.” The report states the rating reflects Standard and Poor’s view of Brandon’s “diversified economy, good operating performance, adequate liquidity, and moderate debt burden” and goes on to say the stable outlook reflects their expectation that Brandon's economic performance will remain healthy.

The company rates borrowers on a scale from ‘AAA’ to ‘D’. Brandon has now maintained the very strong rating for four consecutive years.

“We are pleased that our very strong rating has been affirmed in 2013,” says City of Brandon Treasurer and General Manager of Corporate Services Dean Hammond. “The research update looked at our robust and broad economy, stable population growth, our role as a regional service hub, our low unemployment rate and our strong construction activity, all of which we know to be our strengths. Brandon should be proud that we’ve been able to maintain such enviable global credit situation.”

The report’s outlook also reflects Standard and Poor’s “expectation that financial results will be fairly steady and debt levels will not exceed the capital plan's expectations.” However, the report notes that Brandon’s tight housing market has the potential to place stress on its economy.


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