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S&P affirms Canada Pension Plan's ratings

S&P Global Ratings affirmed Canada Pension Plan Investment Board's AAA long-term and A-1+ short-term credit ratings.

The outlook on CPPIB remains stable.

The rating agency said the AAA rating reflects CPPIB's stand-alone credit profile and S&P Global Ratings' opinion "of a moderately high likelihood that the Canadian government would provide extraordinary support in the event of financial distress."

The stable outlook reflects S&P's expectations that CPPIB will continue to realize good medium-term investment returns and that liquidity will remain more than adequate and leverage will remain well below 40% of total assets in the next two years.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.