Global rating agency Fitch affirmed Canada's rating as AAA with a stable outlook.
The rating agency has considered the country's "Long-term foreign currency (FC) Issuer Default Rating (IDR) at 'AAA', Long-term local currency (LC) IDR at 'AAA' and Foreign currency short-term IDR at 'F1+'."
"Canada has a good track record of prudent fiscal management. Its fiscal credibility was boosted by the timely withdrawal of the fiscal stimulus implemented during the global financial crisis and the roadmap provided by the authorities to achieve a balanced federal government fiscal position by 2015/16. Prudent budgetary practices provide sufficient confidence that the consolidation path is realistic" said the report.
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