Tag Archive: Ontario is now the world’s most indebted sub-sovereign borrower

on January 21, 2016 in World News

With twice the debt of California, Ontario is now the world’s most indebted sub-sovereign borrower

Katia Dmitrieva and Cecile Gutscher, Bloomberg News Ontario, the world’s most indebted sub-sovereign borrower, is ploughing ahead with Canada’s most ambitious infrastructure plan — risking the censure of Standard & Poor’s and underperformance for its $307 billion of bonds. The nation’s most-populous province is keeping a goal of spending $130 billion over the next decade on work such as roads and mass transit in Toronto even after S&P dropped its credit grade this month to the lowest level ever. Yield spreads on some of the province’s debt reached the widest since January after the ratings move. Ontario, with about 13.7… View Article

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