uOttawa, uToronto drawn into Ontario government's credit-rating troubles

December 19, 2011

7 prominent education and health providers in Ontario, including the Universities of Toronto and Ottawa, have been drawn into the provincial government's fiscal woes, putting their credit ratings at risk. The universities could see higher costs for their own financing if rating agencies such as Moody's, which has revised Ontario's outlook to negative from stable on the province's Aa1 rating, downgrade their debt. A uOttawa spokesperson says the negative outlook reflects the financial challenges the Ontario government is facing. The spokesperson says the university "is preoccupied by the Government of Ontario's future capacity to finance postsecondary institutions adequately and by the impact that future cuts in funding could have." Moody's News | Globe and Mail