CJOB News Team reporting
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.