Fitch revises Desjardins view to stable

Fitch Ratings said it revised the outlook to stable from negative and affirmed Desjardins Group's long-term issuer default rating at AA-. Fitch also affirmed Federation des caisses Desjardins du Quebec's (FCDQ) long-term IDR at AA-.

“While conditions in the Canadian operating environment remain uncertain and unfavorable relative to the pre-pandemic period, contributing to incrementally higher risk and lower earnings potential over the rating horizon, Fitch believes DESJ's strong capital position and resilient earnings profile provides sufficient ratings headroom to maintain benchmark performance,” Fitch said in a press release.

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