Moody’s Upgrades Ontario’s Long-Term Debt Rating

Durham, ON, Canada / channel12

Finance Minister Charles Sousa says a decision by Moody’s Investors Service to upgrade its outlook for the province shows confidence in the government’s plan to grow Ontario’s economy.
Moody’s yesterday affirmed Ontario’s rating of double-A-2 but revised its ratings outlook to stable from negative.
It says it believes Ontario’s debt burden will continue to modestly improve as the province moves towards balanced budgets — aided by increasing revenues and continued spending controls.
Sousa says the Liberals continue to reduce the deficit through a balanced approach and remain on track to get back into the black by 2017-18.

(Canadian Press)

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