Moody's rates Quebec debt Aa2

Moody's Investors Service said it assigned an Aa2 rating and stable outlook to Quebec's debt.

The rating reflects the city's satisfactory financial performance, healthy operating surpluses, a stable government-based economy and its above average debt burden, the agency said.

The very strong institutional framework for municipalities in Quebec, which indicates a high likelihood of extraordinary support from the Province of Quebec if required, provides positive support to credit quality, the agency added.

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