Summary: City of Ottawa

Steady economic growth and continuity of good management under the new city council will support creditworthiness. S&P Global Ratings expects steady growth in household income, population, and housing assessments to continue increasing in the City of Ottawa, supporting the city's revenue generation. We expect Ottawa's strong management to continue to make prudent fiscal decisions and remain on track with its ambitious capital plan, under the direction of a new city council. We believe Ottawa's relationship with the Province of Ontario will remain supportive around core policy issues. Strong revenues and economic growth will support creditworthiness, although continued light rail transit (LRT) expansion will generate large after capital deficits and increasing debt. Ottawa's LRT phase 2 will commence in 2019, with

...Credit context and assumptions Base-case expectations Steady economic growth and continuity of good management under the new city council will support creditworthiness. + S&P Global Ratings expects steady growth in household income, population, and housing assessments to continue increasing in the City of Ottawa, supporting the city's revenue generation. + We expect Ottawa's strong management to continue to make prudent fiscal decisions and remain on track with its ambitious capital plan, under the direction of a new city council. + We believe Ottawa's relationship with the Province of Ontario will remain supportive around core policy issues. Strong revenues and economic growth will support creditworthiness, although continued light rail transit (LRT) expansion will generate large after capital deficits and increasing debt. + Ottawa's LRT phase 2 will commence in 2019, with expected costs of C$4.66 billion. + Federal and provincial LRT grants totaling C$2.37 billion over the course of construction...

Summary