Moody's renews Canada's triple-A rating
The Canadian Press
Posted: Aug 16, 2012 1:34 PM ET
Last Updated: Aug 16, 2012 1:33 PM ET
Moody's says Canada's economic performance and government financial position have held up better than most other top-rated sovereign entities. (Philippe Wojaze/Reuters)
Canada gets to keep its triple-A rating from Moody's Investors Service.
The New York-based agency says Canada's economic performance and the financial position of its federal government have held up relatively well.
Moody's assesses the financial stability or risk of governments and corporations around the world and assigns them ratings that are used by investors.
Canada is one of the few jurisdictions in the world that continue to have the top Moody's rating, which is Aaa.
Moody's says Canada's debt ratios suffered a setback after the 2008-09 recession, but not as much as in other triple-A countries.
© The Canadian Press, 2012
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