Moody's: Ontario's return to a balanced budget more challenging than Quebec's

Toronto, February 23, 2015 -- Returning to a balanced budget will be more of a challenge for Ontario (Aa2 negative outlook) than for Quebec (Aa2 stable outlook), says Moody's Investors Service in its new report "Ontario's return to budgetary balance more challenging than Quebec's," which highlights the differences between the two provinces' credit profiles. Ontario plans to achieve a balanced budget in 2017/18, Quebec in 2015/16. Ontario is in a more challenged position than Quebec because its debt burden has been rising since 2009, it faces larger ongoing deficits and also because there is a risk that all the cost controls designed to return Ontario to a balanced budget may not be carried out.

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