Fitch Ratings has downgraded Canada's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'AA+' from 'AAA' (outlook stable) citing the deterioration of Canada’s public finances resulting from the pandemic.
The nation is expected to run a bigger general govt deficit this year and emerge from recession with “much higher public debt ratios”The headline extended the losses on the loonie...
“The higher deficit is largely driven by public spending to counteract a sharp fall in output as parts of the economy were shuttered to contain the spread of the coronavirus”
Oh, CanadAA+.......MUCH MORE
We have more video of the devastation coming in from Ottawa (or is this Toronto?):
Definitely not West Pender Street in Vancouver.
A sad day for Canada and therefore the world... pic.twitter.com/VhKhUzpO0L— South Park (@SouthPark) December 2, 2017
