Research Update: Province of Ontario Ratings Affirmed At 'A+'; Outlook Remains Positive

We expect macroeconomic challenges will stall the Province of Ontario's fiscal consolidation efforts in 2024, but the province's budgetary performance should strengthen beyond the current year, helping Ontario achieve its debt sustainability targets. S&P Global Ratings affirmed its 'A+' long-term issuer credit and senior unsecured debt ratings, and its 'A-1' short-term rating on the Province of Ontario. The positive outlook reflects our view that, despite near-term economic uncertainty, Ontario will post modest, and steadily improving, operating surpluses and narrowing after-capital deficits. On June 6, 2024, S&P Global Ratings affirmed its 'A+' long-term issuer credit and senior unsecured debt ratings and its 'A-1' short-term rating on Ontario. At the same time, S&P Global Ratings affirmed its 'A+' issue-level rating on Ontario

...- We expect macroeconomic challenges will stall the Province of Ontario's fiscal consolidation efforts in 2024, but the province's budgetary performance should strengthen beyond the current year, helping Ontario achieve its debt sustainability targets. - S&P Global Ratings affirmed its 'A+' long-term issuer credit and senior unsecured debt ratings, and its 'A-1' short-term rating on the Province of Ontario. - The positive outlook reflects our view that, despite near-term economic uncertainty, Ontario will post modest, and steadily improving, operating surpluses and narrowing after-capital deficits....

Research Update