Foreign investments by pension funds protect Canada’s triple-A credit rating

Canada’s trove of overseas assets, including airports and roads owned by pension funds, is helping to protect the country’s top credit rating, according to Fitch Ratings.

Foreign assets held by Canadians reached $3.71 trillion US$ at the end of 2018, exceeding foreign liabilities by $528.6 billion US$ and making the country a net creditor to the rest of the world.

That’s helping to support the credit rating, despite a mountain of public-sector debt and persistent current account...

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