TORONTO -- Standard&Poor's CreditWire 5/28/97 -- Standard&Poor's today has affirmed its double-`A'-minus long-term debt rating and its `A-1'-plus short-term rating on the Province of Ontario. Also, Standard&Poor's has affirmed its double-`A'-minus long-term and `A-1'-plus short-term debt ratings of Ontario Hydro, guaranteed by the province. The outlook remains stable. The ratings reflect: -- The government's commitment to further reduction of the province's still-large fiscal deficit, despite the revenue pressures associated with its simultaneous focus on reducing personal tax rates; and -- A strong and diverse economic base, with expectations of continued export growth and improving domestic demand through the medium term. Deficit projections for fiscal 1998, as well as 1997 results, were in line with
