S&P: Ontario view to negative

Standard & Poor's said it revised the outlook on the Province of Ontario to negative from stable.

The agency also said it affirmed its AA- long-term and A-1+ short-term issuer credit ratings on the province.

S&P said it expects to review the ratings on government-related entities in Ontario's education and health sectors in the near- to medium-term.

The negative outlook reflects the minority legislature's ability to meet challenging cost-containment targets, the agency said.

Ontario's large, wealthy and well-diversified economy continues to recover, albeit unevenly, from the recession, S&P said.

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