Unexpected return to weakness more likely than a robust recovery
Global defaults surpassed 2019 levels in the first five months of 2020
Pandemic pressure on provincial finances drives the shift
Forecast sees rebuild through 2022, assuming strict lockdowns aren't needed again
Replacing the financial benchmark by the end of 2021 is still possible despite the pandemic
Economists say Fitch's rating was driven by forces affecting most economies, not just Canada
Covid-19's massive effects on government finances drive the rating cut
Valuation concerns are driving the sharp increase in global mutual fund redemption suspensions
Restoring corporate balance sheets will take time
Huge Q2 credit provisions not seen growing, unless economy falters further