Makrognosis

Canada Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:CA

Model score91 / 1009 Nov 2026
Grade equivalentAAmodel-implied
BandUpper investment grade0–100 scale, 100 = strongest
Rank10th of 84economies scored

Makrognosis sovereign credit model scores Canada at 91 out of 100 as of 9 November 2026, equivalent to AA on the familiar letter scale — upper investment grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places Canada 10th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 131.3% of GDP, a fiscal balance of −0.01% of GDP, a current account balance of −0.9% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Canada sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 202677.580.082.585.087.590.092.5Robomacro
Canada sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202690.7AA
1 October 202690.7AA
31 July 202690.7AA
30 July 202690.0AA
26 July 202688.4AA
21 June 202691.7AA
18 June 202679.6A+
Get the Canada sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/CA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/CA",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Canada, from official national and international statistics.

InputValueVintage
GDP per capitaUS$58,2762026
Real GDP growth, 5-year average3.3%2026
Inflation, recent average2.6%2026
Government debt131.3% of GDP2026
Fiscal balance−0.01% of GDP2026
Current account balance−0.9% of GDP2026
Foreign-exchange reserves1.6 months of imports2026
Governance (World Bank WGI composite)1.392026

How Canada compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
6Germany9 Nov 202694
7Ireland9 Nov 202694
8Sweden9 Nov 202694
9Norway9 Nov 202694
10Canada9 Nov 202691
11Australia9 Nov 202690
12Japan9 Nov 202689
13United Kingdom9 Nov 202688
14Finland9 Nov 202688
15United States9 Nov 202687
16New Zealand9 Nov 202685

All 84 economies ranked →

Canada economic indicators

Canada GDP (Gross Domestic Product)Canada Gross domestic product at market prices, expenditure-based (current prices, SA at annual rates)Canada Inflation Rate (CPI)Canada Unemployment RateCanada Industrial ProductionCanada Retail SalesCanada Producer Price Inflation (PPI)Canada Trade Balance: Goods & ServicesCanada Exports of goods and services (chained 2017 dollars, SA at annual rates)Canada Merchandise exports, all countries, balance of payments basis, seasonally adjustedCanada Imports of goods and services (chained 2017 dollars, SA at annual rates)Canada Merchandise imports, all countries, balance of payments basis, seasonally adjustedCanada Government Debt to GDPCanada EmploymentCanada M2 (gross) monetary aggregateCanada M2 Money Stock

FAQ

What is Canada's credit rating?
Makrognosis sovereign credit model scores Canada at 91/100 as of 9 November 2026, equivalent to AA (upper investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/CA returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.