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Canadian Budget In Line With Expectations; Crown Corp Ratings Unaffected By Changes Mar 07
Standard & Poors, March 2007
Abstract
TORONTO (Standard & Poor's) March 20, 2007--Standard & Poor's Ratings Services today said that neither the ratings on the Government of Canada (AAA/Stable/A-1+), nor on any of the major federal Crown corporations or guaranteed entities, would change as a result of the federal government's Budget Plan 2007, unveiled yesterday afternoon. The federal government continues to register surpluses, with the budget announcing an expected surplus of 0.6% of GDP in fiscal year 2007 (ending March 31, 2007) to be put toward debt reduction. The budget projects continued small surpluses in fiscal years 2008 and 2009, near-zero in GDP terms, dedicated to continued debt repayment of at least C$3.0 billion per year. 'Such performance is in line with our previous expectations,' said...
Companies mentioned in this report are: Canada,Export Development Canada ,Farm Credit Canada,Business Development Bank of Canada,Canada Mortgage and Housing Corp.,Canadian Wheat Board,Canada Housing Trust No.1
Action: General Comment
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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