QUÉBEC CITY, Aug. 28, 2015 /CNW Telbec/ - Québec Minister of Finance Carlos Leitão is very satisfied with the decisions announced in recent weeks by the five credit rating agencies that attribute a credit rating to Québec. "As was the case last year, all of the credit rating agencies have confirmed Québec's credit rating and outlook. The decisions once again confirm the seriousness of our economic and budgetary policies to sustainably put public finances in order, promote economic growth and reduce the debt burden," Minister Leitão noted.
Generally speaking, the credit rating agencies point out that Québec can rely on a robust, diversified economy. They note the government's sound financial management reflected, in particular, in its commitment to achieve a balanced budget and sound control over public spending.
The agencies have also emphasized the importance of the predictability and balance of the institutional framework that the Canadian federation represents, which are contributing to stability and Québec's outstanding access to financial markets. However, the agencies have indicated that Québec's debt burden remains high.
"The agencies' decisions once again highlight that our plan is credible and realistic and that we are pursuing the right objectives. They have noted the importance of restoring budgetary balance this year and reducing the debt burden by pursuing our policy of payments to the Generations Fund," the Minister concluded.
The credit rating agencies published their decisions in recent weeks: Fitch (June 19, 2015), DBRS (June 30, 2015), Moody's (July 2, 2015), Japan Credit Rating Agency (August 25, 2015) and Standard & Poor's (August 26, 2015).
SOURCE Cabinet du ministre des Finances
For further information: Andrée-Lyne Hallé, Press Officer, Office of the Minister of Finance, 418-643-5270