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S&P cuts Province of Ontario
Standard & Poor’s said it lowered its long-term issuer credit rating and senior unsecured debt ratings on the Province of Ontario to A+ from AA- and affirmed its A-1+ short-term and commercial paper ratings on the province.
The outlook is stable.
S&P said the downgrade reflects its view that Ontario is a sustained and projected underperformer on its budgetary performance and debt burden versus domestic and international peers.
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