Province of Ontario Credit Ratings
Credit Ratings
A credit rating is a current assessment of the creditworthiness of a borrower with respect to a specified obligation. It indicates the capacity and willingness of a borrower to pay interest and principal in a timely manner.
The Province of Ontario's current ratings are as follows:
| Long-term | Short-term | Outlook | Confirmation Date | |
|---|---|---|---|---|
| Moody's Investors Service | Aa3 | P-1 | Stable | May 26, 2025 |
| Fitch | AA- | F1+ | Stable | June 20, 2025 |
| Morningstar DBRS | AA | R-1 (high) | Stable | June 6, 2025 |
| S&P Global Ratings | AA- | A-1+ | Stable | June 19, 2025 |
Long-term Ratings are also assigned an outlook indicating the likely direction of an issuer's rating over the intermediate term, typically ranging from 6 months to 2 years.
Short-term Ratings are for debt maturities of less than one year. Ratings are graded into several categories, ranging from the highest-quality obligations to default.