{"id":3288,"date":"2014-12-20T08:13:17","date_gmt":"2014-12-20T13:13:17","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3288"},"modified":"2014-12-20T08:13:17","modified_gmt":"2014-12-20T13:13:17","slug":"fitch-downgrades-ontario-long-term-debt-notes-risks-on-path-to-balanced-budget","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3288","title":{"rendered":"Fitch Downgrades Ontario Long-Term Debt, Notes Risks On Path To Balanced Budget"},"content":{"rendered":"

Fitch Downgrades Ontario Long-Term Debt, Notes Risks On Path To Balanced Budget<\/a>.<\/p>\n

TORONTO – Fitch Ratings downgraded Ontario’s long-term debt rating Friday, highlighting “risks” on the path to the Liberal government’s target of balancing the budget by 2017-18.<\/p>\n

The rating agency cut its long-term issuer default rating to AA- from AA, saying “difficult actions” will be necessary for the province to achieve its target of eliminating the $12.5-billion deficit.<\/p>\n

“Budget options are likely to prove more limited given the extent of actions taken to date and use of one-time actions to achieve targets, in Fitch’s opinion,” the agency said.<\/p>\n

“The downgrade to AA- reflects Fitch’s concern that risks remain to achieving its goals and both debt burden and the accumulated deficit will remain significantly elevated.”<\/p>\n

Ontario Finance Minister Charles Sousa said the government remains committed to eliminating the deficit by 2017-18, but the Fitch announcement underscores the challenges the province’s economy faces.<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Fitch Downgrades Ontario Long-Term Debt, Notes Risks On Path To Balanced Budget. TORONTO – Fitch Ratings downgraded Ontario’s long-term debt rating Friday, highlighting “risks” on the path to the Liberal government’s target of balancing the budget by 2017-18. The rating agency cut its long-term issuer default rating to AA- from AA, saying “difficult actions” will […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1927,195,201,1378,1547],"class_list":["post-3288","post","type-post","status-publish","format-standard","hentry","category-economics","tag-budget","tag-debt","tag-deficit","tag-ontario","tag-ratings-downgrade"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3288"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3288\/revisions"}],"predecessor-version":[{"id":3289,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3288\/revisions\/3289"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}