July 22, 2020 / 8:50 PM / 17 days ago

S&P affirms Canada at 'AAA/A-1+'

People ride go karts at a tourist attraction in Niagara Falls, Ontario, Canada July 21, 2020. REUTERS/Carlos Osorio

(Reuters) - Ratings agency Standard & Poor affirmed Canada’s sovereign debt ratings at ‘AAA/A-1+’ on Wednesday, citing the government’s use of its fiscal and monetary headroom as a safety net to cushion the blow caused by the COVID-19 pandemic.

The agency maintained the country’s outlook at “stable”.

S&P said it was expecting the Canadian government to prudently taper its support measures as the economy recovers next year, thereby maintaining its strong financial profile.

Reporting by Aditi Sebastian; Editing by Anil D'Silva

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