April 25, 2018 / 2:30 AM / 5 months ago

China's Dagong downgrades Canada's sovereign credit outlook to negative

BEIJING, April 25 (Reuters) - China’s Dagong Global Credit Rating Co, one of the country’s major ratings firms, on Wednesday cut the credit outlook of Canada to negative, citing a slowdown in the Canadian economy and relatively high risks in its real estate market.

A persistently high fiscal deficit was also one of the reasons for the downgrade, Dagong said in a statement.

The agency kept its ratings for Canada’s local and foreign currency ratings at AA+. (Reporting by Ryan Woo; Editing by Sam Holmes)

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