DBRS confirms Ontario

DBRS confirmed the long- and short-term debt ratings of the Province of Ontario at AA (low) and R-1 (middle).

The trend is stable.

DBRS said it views the continuation of the fiscal recovery plan and the increasing emphasis on cost containment as an encouraging step in the right direction.

However, as demonstrated by the recent budget negotiations, the political environment remains fragile and the agency said it believes that implementing the tough measures required to achieve fiscal targets and limit debt growth will be very challenging.

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