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Magnifying glass focused an invoice with negative numbers

Global defaults surpassed 2019 levels in the first five months of 2020

Pandemic pressure on provincial finances drives the shift

10380127 - building silhouettes of a city and flag

Economists say Fitch's rating was driven by forces affecting most economies, not just Canada

Hospital workers

How countries and companies cope is increasingly important to investors

Canada, provinces, map, red

Covid-19's massive effects on government finances drive the rating cut

Thin line flat design of accounting financial data, web database with business graph, tax planning and company budget information files. Modern vector illustration concept, isolated on white background.

Tougher government requirements could upend the economics of P3 projects

Paper family of four under a paper cutout insurance umbrella

A slow recovery could drive credit losses that pressure insurers

Failure, Stock Market Crash, Bear Market, Crisis

Government supports due to Covid-19 will erode finances worldwide, rating agency says

risk

Long-term effects depend on whether governments address underlying social trends

a serious business man thinking about serious problems

The rating agency's downside scenario for the global economy would impact a wide swath of ratings