1415 ET - Canada's fall economic update, overshadowed by the departure of former finance minister Chrystia Freeland, indicates sharply wider budget deficits for the remainder of the decade. Still, rating firm Morningstar DBRS says it's maintaining its triple-A rating for Canada. The firm says the triple-A rating is underpinned by the country's strong fundamentals. "The country has ample flexibility to withstand a period of heightened political uncertainty," Morningstar says. It adds even though there's "clear erosion" of Ottawa's public finances, the budget deficit is expected to be less than 1% of GDP by 2027. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
December 17, 2024 14:15 ET (19:15 GMT)
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