CJOB News Team reporting
4/27/2012
Ontario's credit rating downgrade is a warning to all provinces to be prudent with their finances.
University of Manitoba Professor John McCallum says while Manitoba is not at risk of a similar downgrade, it's important to keep the provincial deficit down by controlling costs rather than raising taxes, which he says is not sustainable.
Moody's Investors Service downgraded Ontario from a Double-A 1 credit rating to a Double-A 2. Manitoba has a Double-A 1 credit rating.
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