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Moody’s ranks Canada better than most


 

In a report released on Thursday, Moody’s Investors Service not only confirmed Canada’s triple-A rating but said the country held up to the effects of the global recession “better than most other top-rated sovereigns.”

Canada didn’t experience a financial crisis like the ones that affected the U.S. and some European countries, Moody’s also noted.

The rating agency dismissed risk about the red-hot housing market, one of the longstanding concerns about the Canadian economy along with household debt, calling it “manageable in terms of its potential effect on federal finances.”

 

 

 


 
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Moody’s ranks Canada better than most

  1. “along with household debt, calling it ‘manageable in terms of its potential effect on federal finances.’ ”

    Time will tell. They also thought the US housing bubble was no biggie…

    BTW, the G&M’s sub-headline reads, “Credit rating agency lauds Canada’s ‘economic resiliency,’ but warns of rising dependence on oil.”

    Best thing that can happen for Canada is for the bitumen pipelines to fall through, or the price of oil to drop below $80/barrel shutting down reckless oil sands expansion. A country can not live by bitumen alone.

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