Posted March 11, 2019 14:07:24 A major credit rating firm has downgraded Canada’s rating from A to a B, citing “substantial and continuing concerns” about Canada’s economy.
Key points:CNBC.ca, a CBC subsidiary, reports that Moody’s has downgrades Canada’s creditworthinessThe report was released after a new round of negotiations on a revised credit rating agreement for Canada ended in stalemateCNBC has reported that Moody’S ratings agency has down-graded Canada to a C+, the lowest possible rating, in the first such report to be published by the ratings agency since the government and private sector began negotiating on a new rating system in October.
A new round in negotiations on the rating agreement was announced late last month, with the sides still not quite at an agreement on the terms.
The two sides are due to meet again on March 18 to try to come to an agreement.CNBC also reports that a separate rating agency, Moody’s Investor Services (MISS), has lowered Canada’s A+ rating to B, from A+ to B+.
Moody’s did not respond to a request for comment on its report.
Canada’s economy has seen strong growth in recent years and there are indications that the country’s credit rating could be a factor in the next government’s decision on a budget, as it is a key source of government funding.
However, the Canadian government has not said when it would be releasing its budget.
“While the overall outlook remains favourable, there are significant risks to the economic outlook, particularly as a result of the uncertainties and the uncertainties related to the economy,” the report says.
“As a result, a negative outlook on the economy could have a material adverse effect on economic activity, including a reduction in economic activity and employment, which would be a negative shock to Canada’s economic and financial stability.”
Moodys says there are “significant” and “persistent” concerns about Canada and its economyThe report, titled “Canada’s Credit Rating,” is the first to be released from the two sides of the talks, which were set to begin in earnest on Monday.
Moodies has been closely following the negotiations since the beginning, and the latest report comes days after the government announced it would not hold further negotiations until the next round of talks begins on March 17.
The next round is expected to be between March 18 and March 20.
A report issued in January by Canada’s Department of Finance (DF) said that the economic recovery was “relatively strong” and that the Canadian economy would continue to grow at an annual rate of 6.7 per cent over the next five years.
Mental health care is also a concern for the government, as many of the countries most vulnerable citizens have been able to get help from private mental health care providers.
Municipalities, including many in remote areas, face the highest costs and are facing high rates of homelessness and crime.
The report also notes that the health of rural communities has been “challenged by the impacts of climate change and the adverse impacts of natural disasters, including the devastating hurricanes of 2017 and 2018.”
The new report says Canada’s overall economy has grown at 6.6 per cent in the second quarter of 2019, compared to 6.2 per cent for the same period last year.
In the first quarter of 2018, the economy grew at 6 per cent, while in the same quarter of 2017 it grew at 3 per cent.
Czech RepublicThe Czech Republic’s economy grew 6.3 per cent during the second half of 2018 compared to the same time last year, according to data from Statistics Canada.
The economy expanded by 5.6 million in the two months following the end of the last recession, which ended in 2014.
It was followed by a six-month downturn in 2017.
According to data released by the Czech National Bank, GDP grew by 1.6 percent in 2018, which was up from a 1.2 percent increase in 2017, and 3.6 percentage points from a year earlier.
It is still not enough to generate growth in 2019, though, because the Czech Republic needs to add 1.5 million people to the workforce over the coming two years.
In its statement, the government says that the government is “working towards a sustainable growth scenario that will help to keep our economy competitive for years to come,” and that “the government is committed to working with all sectors of the economy to meet the demands of future generations.”
The Czech government has said it expects to achieve a surplus in 2019.
IrelandThe Irish economy grew by 4.1 per cent between the second and third quarters of 2019.
The government says it expects the country to grow by 3.2 percentage points in 2019 after an annualised rate of 5.3 percent growth.
According to the Irish Central Bank, Irish GDP is expected by 2021 to grow 5.2-5.3