July 10, 2020 / 9:50 PM / a month ago

Canada's long-term financial profile seen consistent with AAA rating -S&P

TORONTO, July 10 (Reuters) - Canada’s long-term financial and economic profile is expected to remain consistent with its current AAA rating, Standard & Poor’s said on Friday, just two days after Ottawa forecast its largest budget deficit since World War Two.

“We expect an improvement in economic outcomes starting next year, as GDP growth resumes and the federal government unwinds its extraordinary stimulus measures,” said Joydeep Mukherji, sector lead, sovereign ratings for the Americas at S&P Global Ratings in a statement to Reuters. (Reporting by Fergal Smith; Editing by Sandra Maler)

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