Thursday, July 28, 2011

Canada is still AAA

Hopefully so wil our American friends, but that is not for sure.

TORONTO — Moody's Investor Services is renewing Canada's debt rating at triple-A, the highest possible.

The firm said the AAA rating was warranted due to the country's high degree of economic resiliency, efforts by Ottawa and the provinces to deal with their debt ratios over the coming years and other factors.

Moody's says the state of Canada's housing market and Quebec's sovereignty issues do pose some risk, but the risks are low.

The housing market also poses some risk because many mortgages are insured by a federal Crown corporation.

1 comment:

Craig Smith said...

I hope the USA loses its AAA rating. They need a serious wakeup call. Having their cost of borrowing increase due to a downgrade will only force them to make deeper and faster cuts.

I Support Lord Black