TORONTO (Standard&Poor's) Oct. 16, 2012--Standard&Poor's Ratings Services said today that the Province of Ontario's (AA-/Negative/A-1+) second-quarter fiscal results released yesterday revealed that it remains on track for a balanced budget in fiscal 2017-2018, despite headwinds from a slowing global economy. Standard&Poor's considers these results to be in line with its expectations, and views them as neutral for both the ratings and outlook on the province. In addition, yesterday the province's premier, Dalton McGuinty, announced the prorogation of the provincial legislature and his own resignation. The fiscal update revealed that revenues and expenses together were C$400 million better than forecast in the fiscal 2013 budget. As such, the province is currently on track for a
