Ontario's credit rating stable in 2020 despite COVID-19 costs

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Ontario's credit rating stable in 2020 despite COVID-19 costs

  • The Financial Accountability Office (FAO) informed four top rating agencies reaffirmed the province's credit at either AA- or A.
  • But the ratings are subject to Ontario’s post-pandemic plan including decrease in fiscal deficit and lowering debt burden.
  • Ontario’s likely to rack up budget deficit of C$ 38.5 billion, up from C$ 20.5 billion projected in March.

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