July 20 (Reuters) - Fitch:
* FITCH AFFIRMS CANADA'S RATINGS AT 'AAA'; OUTLOOK STABLE
* FITCH SAYS CANADA'S 'AAA' RATINGS BALANCE STRUCTURAL STRENGTHS AGAINST RELATIVELY HIGH GENERAL GOVERNMENT INDEBTEDNESS
* FITCH SAYS CANADA'S GENERAL GOVERNMENT DEBT BURDEN REMAINS HIGH BUT DEFICIT IS RELATIVELY MODEST
* FITCH SAYS ECONOMIC IMPACT OF U.S. TARIFFS ON SELECTED CANADIAN IMPORTS IMPOSED TO DATE IS "MANAGEABLE"
* FITCH SAYS ECONOMIC IMPACT OF A U.S. WITHDRAWAL FROM NAFTA ON CANADA WOULD BE NEGATIVE BUT WOULD PROBABLY NOT LEAD TO A PROLONGED RECESSION
* FITCH SAYS CONTINUES TO BELIEVE THAT CANADA'S FINANCIAL SYSTEM & INDIVIDUAL INSTITUTIONS ARE "ROBUST" IN EVENT OF A DOWNTURN IN HOUSING MARKET
* FITCH SAYS EXPECTS CANADA'S GENERAL GOVERNMENT DEBT RATIO TO CONTINUE TO FALL
* FITCH SAYS EXPECT BANK OF CANADA TO FOLLOW GRADUAL PATH THAN THE FED IN VIEW OF RISKS FROM U.S. TRADE POLICY & ELEVATED HOUSEHOLD INDEBTEDNESS