By Paul Vieira
OTTAWA--The Canadian government said Friday it would provide extraordinary financing to Canada Post, the country's state-owned postal service, to maintain its solvency and ensure it can deliver the mail.
The bridge financing totals 1.03 billion Canadian dollars, or the equivalent of $720 million, and will be provided on an as-needed basis to pay obligations. The government said Canada Post will fall below its necessary operating cash requirements this year, and the cash injection "will prevent insolvency and ensure the continuity of postal services."
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
01-24-25 1409ET