Fitch, an internationally recognized credit ratings agency, announced they are upgrading the province’s fiscal outlook to stable and affirmed our province’s credit rating at AA-.
Under the previous Liberal government, financial waste and mismanagement threatened our provincial finances. However, this announcement shows that the steps our government has taken to start Ontario down the path to fiscal sustainability are starting to bear fruit.
In a recent meeting with Fitch officials, our government explained our five-year path to balance, our debt burden reduction strategy, and the initiatives we have already taken to control runaway spending. For these and other reasons, Fitch concluded that Ontario’s risk profile was “stronger”.
Our government is also creating a climate that is open for business and open for jobs by lowering taxes, providing more focused training programs, and eliminating unnecessary red tape.
This is good news for the people of Sault Ste. Marie and for Ontario, and shows our government is delivering meaningful change while we continue to protect what matters most to Ontarians.