Canada Loses Coveted 'AAA' Credit Rating At Fitch

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Canada is no longer among the elite group of countries that enjoy the world's highest credit rating

Canada has lost the coveted"AAA" credit rating at Fitch Ratings, the result of rapidly growing government debt.

MONTREAL ― Canada is no longer among the small group of countries that enjoy the prestigious “AAA” debt rating at the world’s three major credit agencies. Fitch Ratings announced Wednesday it’s downgrading the country’s debt to the second-highest rating, AA+, due to governments’ increased debt during theCanada had been one of only 10 countries in the world to enjoy AAA status at all the ratings agencies, along with Australia, Germany, the Netherlands, Norway, Singapore, Sweden and Switzerland.An AA+ rating at Fitch puts Canada more in line with places like Austria, France, Hong Kong and the U.S.

But rising interest rates are unlikely this time around because of the Bank of Canada’s emergency measures to shore up the financial system. The Bank’s “quantitative easing” program is buying up billions of dollars of Canadian government debt, thus keeping demand for that debt high among investors, which ensures the interest on it stays low.

 

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Liberals destroying Canada

Oh for pete's sake... we went from AAA down one step to AA+ OMG, the economy is crashing I tell ya!

Kind of expected it with the pandemic. But we’ll get through it and come out better on the other side.

Nonsense

Oh, really

Just imagine how bad a shape Canada would’ve been in if we elected a moron who couldn’t even pass a real estate course.

You better get back in line or TrudeauDictatorship will be cancelling your bribes.

Trudeau writing too many cheques with no money in the bank. Think taxes are high now, just wait.

surprised HuffPost is reporting on negative news on Trudeau government

Who needs to buy much when we are all staying at home?! Save save save. 😂

Our oil industry is crashing, jobs down, dollar slumping, debts & deficits growing-- and that was BEFORE the WuFlu!

Thanks Justin.

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