KBRA Affirms AAA/K1+ Ratings for Canada with a Stable Outlook
23 Feb 2024 | New York
KBRA affirms the long-term issuer ratings of AAA for Canada. KBRA also affirms the short-term ratings of K1+ of the sovereign. The Outlook on the long-term ratings is Stable.
This credit rating is an unsolicited credit rating | |
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With Rated Entity or Related Third-Party Participation | Yes |
With Access to Internal Documents | No |
With Access to Management | Yes |
KBRA's affirmation of Canada's ratings reflect its large, wealthy, diversified, and resilient economy, robust institutional framework, low and affordable net government debt, global geostrategic importance, and fiscal flexibility. KBRA’s view also reflects financial system health, and the sound practices of financial institutions and mortgage insurers that cushions risks from high interest and mortgage rates and weakened housing affordability. KBRA continues to monitor developments in the Middle East and the Red Sea, but acknowledges the risks posed to Canada’s ratings appear contained.
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