Moody's lowers Ontario view to negative

Moody's Investors Service said it revised the outlook on the Province of Ontario's Aa1 issuer and debt ratings to negative from stable, affecting about C$190 billion in debt securities.

The change in the outlook reflects an assessment of risks surrounding the province's ability to meet its medium-term fiscal targets given the recent slowdown in provincial economic growth and the resulting risks to the province's ability to stabilize the recent accumulation in debt, Moody's said.

The negative outlook on the province reflects the softening economic outlook, Ontario's growing debt burden and the extended timeframe to achieving a balanced budget, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.