Ontario’s Financial Accountability Office (FAO) released its overview of the province’s credit rating and found that the provincial economy is in a very good position when it comes to debt and borrowing ability.
This is the first credit rating report from the FAO since October 2024, representing a period during which both the Ontario and Canadian economy went through big changes due to tariffs on Canadian goods from the Trump administration. Despite the impacts of tariffs, Ontario’s debt position maintains high grades from four international credit rating agencies.