...OVERVIEW + We expect the Province of Ontario to benefit from solid economic growth over the next two years, allowing it to generate additional revenues to fund its capital spending plan and stabilize its finances following its eight-year path back to a balanced operating budget. + As a result, we are affirming our 'A+' long-term issuer credit and senior unsecured debt ratings on Ontario and our 'A+' senior unsecured debt rating on Ontario Electricity Financial Corp. + At the same time, we are lowering our short-term rating on the province to 'A-1' from 'A-1+' and removing the "under criteria observation" identifier following a review under our revised methodology for linking long-term and short-term ratings. + The stable outlook reflects our expectations that within the next two years the province will sustain a more balanced budgetary performance, including fairly steady liquidity metrics, modest after-capital deficits, and a high but slowly declining debt burden. RATING ACTION On June...
