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Canada’s AAA Rating Confirmed By S&P On ‘Ample’ Fiscal Room

  • Agency warns downgrade could happen if large deficits remain
  • Among G-7, only Canada and Germany still have S&P’s top rating
Justin Trudeau, Canada's prime minister.

Justin Trudeau, Canada's prime minister.

Photographer: David Kawai/Bloomberg

Canada’s AAA rating and stable outlook has been confirmed by S&P Global Ratings, which cited the country’s “ample” fiscal and monetary buffer and its diversified economy.

“Canada’s public finances were well positioned entering the pandemic to enable a strong policy response to contain its negative impact without weakening sovereign creditworthiness,” S&P analysts including Julia L Smith wrote in a note Wednesday.