Explaining Ontario’s debt downgrade

Moody’s is downgrading Ontario’s debt from an AA1 rating to an AA2 rating.

But in this case, the lower rating comes with a stable trend. This also follows yesterday’s change: Standard and Poor’s maintained the province’s rating, but said the outlook is negative.

Joining us to help explain what this means for the province is Marvin Ryder from the DeGroote School of Business: