Fitch Rates Canada's USD3 Billion Global Bond 2019 'AAA'

NEW YORK--()--Fitch Ratings has assigned an 'AAA' rating to Canada's USD3 billion bond issuance maturing on Feb. 27, 2019. The bonds have a coupon rate of 1.625%.

The proceeds will be used to supplement and diversify Canada's foreign exchange reserves held in the Exchange Fund Account.

KEY RATING DRIVERS

The rating is in line with Canada's long-term foreign currency Issuer Default Rating (IDR) of 'AAA' with a Stable Outlook.

RATING SENSITIVITIES

The rating would be sensitive to any changes in Canada's long-term foreign currency IDR. Fitch affirmed Canada's ratings at 'AAA' with a Stable outlook on Aug. 21 2013.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Sovereign Rating Criteria' (Aug. 13, 2012).

Applicable Criteria and Related Research:

Sovereign Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685737

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=821482

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Contacts

Fitch Ratings
Media Relations
Elizabeth Fogerty, New York, +1-212-908-0526
elizabeth.fogerty@fitchratings.com
or
Primary Analyst
Lucila Broide, +1-212-908-0898
Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Santiago Mosquera, +1-212-908-0271
Director
or
Committee Chairperson
Paul Rawkins, +1 44 203 530 1046
Managing Director

Sharing

Contacts

Fitch Ratings
Media Relations
Elizabeth Fogerty, New York, +1-212-908-0526
elizabeth.fogerty@fitchratings.com
or
Primary Analyst
Lucila Broide, +1-212-908-0898
Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Santiago Mosquera, +1-212-908-0271
Director
or
Committee Chairperson
Paul Rawkins, +1 44 203 530 1046
Managing Director