News Column

Moody's supports the new government's stance and confirms QuÉbec's credit rating with a stable outlook

July 29, 2014

QUÉBEC, July 29, 2014 /CNW Telbec/ - Minister of Finance Carlos LeitÃo is pleased that Moody's, the credit rating agency, today announced that it is confirming QuÉbec's "Aa2" credit rating along with a stable outlook.

"Considering the financial situation that the previous government left, this is good news. This first decision by a credit rating agency confirms the seriousness of our government's plan and the relevance of the initiatives that we promptly adopted when we took power," Minister LeitÃo noted.

The Minister of Finance pointed out that the June 4, 2014 Budget calls not only for a return to a balanced budget next year but also introduces targeted measures that will help private investment and the QuÉbec economy. "Through tax measures that support QuÉbec manufacturing SMEs, QuÉbec's Maritime Strategy and the revival of the Plan Nord, our government is acting to foster economic development and send a message of openness to investors," the Minister of Finance added.

"Moody's has sent a very clear message to the government, both opposition parties and Quebecers: we must put QuÉbec's public finances right. As the Premier noted when Cabinet was sworn in, the time for marginal or cosmetic measures has passed," Minister LeitÃo concluded.

SOURCE Cabinet du ministre des Finances

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Source: Canada Newswire

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