Rating agencies confirm Quebec’s credit rating

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QUEBEC, July 19, 2021 /CNW Telbec/ – The Minister of Finance and Minister of Economy and Innovation, Eric Girard, says it is very satisfied with the decisions announced in recent weeks by the rating agencies that assign a credit rating to Quebec.

Despite the strong turbulence caused by the pandemic, the agencies that rate Quebec have confirmed its credit rating with a stable outlook.

Overall, the rating agencies underlined that Quebec entered the crisis in a favorable economic and financial situation. They also underlined the fact that Québec relies on a strong and diversified economy and that the government’s commitment to return to a balanced budget demonstrates sound management of public finances. The organizations also noted that maintaining payments to the Generations Fund was a positive element.

Five of the rating agencies have published their decisions in recent weeks: Moody’s on May 20, Standard & Poor’s on June 15, Fitch Ratings on June 25, the Japanese credit rating agency on July 12 and DBRS Morningstar on July 13.

The report from China Chengxin International is expected to be released in the coming weeks.

QUEBEC CREDIT RATING

Credit rating agency

Credit

Evaluation

Outlook

confirmed date

Moody’s

Aa2

Stable

May 20, 2021

Standard & Poor’s

AA–

Stable

June 15, 2021

fitch reviews

AA–

Stable

June 25, 2021

Japan Credit Rating Agency

AA+

Stable

July 12, 2021

DBRS Morningstar

AA (low)

Stable

July 13, 2021

Quote:

“The recognition of Québec’s credit quality by the rating agencies confirms the seriousness of our plan to stimulate the economy and return to balanced budgets once full employment is restored. It must be said and repeated that Quebec has major assets and is an excellent place to invest.”

Eric Girard, Minister of Finance and Minister of Economy and Innovation

SOURCE Office of the Minister of Finance

For further information: Source: Fanny Beaudry-Campeau, Director of Communications, Office of the Minister of Finance, 514-222-6782

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