The Canadian government is using its significant fiscal and monetary headroom to bolster the social safety net and to minimize income loss during the downturn caused by the COVID-19 pandemic. We expect that the government will prudently taper its support measures as the economy recovers next year, thereby maintaining its strong financial profile despite a higher burden of net general government debt. We are affirming our 'AAA' long-term and 'A-1+' short-term sovereign credit ratings on Canada. The outlook is stable. On July 22, 2020, S&P Global Ratings affirmed its ratings, including its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings, on Canada. The outlook is stable. At the same time, S&P Global Ratings affirmed its 'AAA' transfer and convertibility assessment
