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.”