Canada’s credit rating

What it is. The ratings that judge the Government of Canada’s ability to repay its debt. AAA is the best rating.

Why it matters. A downgrade makes Canada’s borrowing more expensive. S&P and Moody’s have given Canada their top rating since 2002; Fitch cut it by one notch, to AA+, on 24 June 2020, after the Covid spending.

How to read the chart. One line per agency: the higher it is, the better the rating. The lowest of the three is used. Moody’s writes its ratings differently: Aaa is the same as AAA.

Who measures it, and when. S&P, Moody’s and Fitch. Collected every morning, a change is recorded only when two independent sources confirm it (Wikipedia, countryeconomy.com).