Dec 13 (Reuters) -
* MOODY'S DOWNGRADES ONTARIO TO AA3, CHANGES OUTLOOK TO STABLE
* MOODY'S SAYS CHANGE IN ONTARIO'S BCA, DOWNGRADE OF ISSUER AND LONG-TERM DEBT RATINGS REFLECTS FISCAL CHALLENGES FACING PROVINCE OVER MEDIUM-TERM
* MOODY'S SAYS BASELINE CREDIT ASSESSMENT OF ONTARIO WAS ALSO LOWERED TO A2 FROM A1
* MOODY'S SAYS CHANGE IN ONTARIO'S OUTLOOK REFLECTS ASSUMPTIONS THAT ANTICIPATED DETERIORATION IN FINANCIAL METRICS WILL BE MODEST ACROSS NEXT 3 YEARS
* MOODY'S SAYS EXPECTS ONTARIO WILL POST MULTIPLE YEARS OF MATERIAL CONSOLIDATED DEFICITS, EXTENDING CURRENT PERIOD OF CONSOLIDATED DEFICITS THAT BEGAN IN 2008/09
* MOODY'S SAYS FORECASTS INCREASING DEBT AND SLOWING REVENUE GROWTH TO RESULT IN FASTER THAN ANTICIPATED INCREASE OF ONTARIO'S DEBT BURDEN