Canada lost one of its coveted triple-A ratings on Wednesday when Fitch downgraded it for the first time, citing the billions of dollars in emergency aid Ottawa has spent to help bridge the downturn caused by COVID-19 pandemic shutdowns.
Fitch cut the rating to “AA+” from “AAA,” making it the first time since August 2004 that the ratings agency did not give Canada top marks. Canada had been one of a handful of countries with a AAA rating from all three of the main agencies. ...
Ottawa is rolling out more than C$150 billion in direct aid to support the economy, and Fitch said this would drive the general government deficit up to 16.1% of GDP in 2020.
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Trudeau is running this Country into the ground!