Lack of rules leaves ratings open to conflicts and investor confusion
Negativity has melted away but risks remain
Short-term risks have eased, but medium-term perils persist
Low rates, weak loan demand likely headwinds for the year ahead
The rating agency cut its default forecast based on refinancings and an economic recovery
Profits likely to remain under pressure in 2021, but capital and liquidity are strong
Little room for upside, lots of potential for downside in banks' ratings
Sector outlooks improve, but uncertainty remains high
However, winners and losers may emerge, the rating agency says
Outlook for provincial finances negative due to Covid-19 spending, oil prices