This report supplements our research update "Province Of Ontario Downgraded To 'A+' From 'AA-' On Very High Debt Burden And Very Weak Budgetary Performance," published on July 6, 2015. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The ratings on the Province of Ontario reflect Standard&Poor's Ratings Services' view that the province is a sustained and projected underperformer on its budgetary performance and debt burden versus domestic and international peers. Although Ontario continues to beat its fiscal targets and expects to close its operating budget gap by fiscal 2018
