MOODY'S ISSUES ANNUAL REPORT ON CITY OF TORONTO

1P2-15309577

Publication: Info-Prod Research (Middle East)

Date: 2008-02-13 00:00:00

In its annual report on the City of Toronto, Moody's Investors Service says that the city's Aa1 debt rating reflects consistent positive operating results and a relatively low debt burden. The rating also takes into account Toronto's large and diversified economy. The City of Toronto continues to post positive operating outcomes, in the order of 8% of operating revenues, despite significant pressures that require ongoing budgetary adjustments. "Budgetary challenges generate recurrent shortfalls that must be managed during the annual budget ...

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