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No Cracks in Toronto Finances as Ford Fights Allegations

Toronto Mayor Rob Ford’s allegations of cocaine use, which has become material for U.S. late-night comedy sketches and prompted calls for his resignation, hasn’t impaired the city’s finances.

More than two years into Ford’s tenure, which has included reports he was video-taped inhaling crack cocaine, a conflict-of-interest lawsuit, and a photograph of him reading briefing notes while driving, Moody’s Investors Service has praised North America’s fourth-largest city for reducing spending and cutting debt.