Province’s credit rating holds steady
Newfoundland and Labrador’s credit rating is holding steady. Morningstar has confirmed the province’s long-term credit rating at “A” with a stable outlook, saying it expects the province to outperform its own budget forecasts.
The agency points to stronger-than-expected resource revenues, potential development of Bay du Nord, increased federal defence spending, and a possible Hydro-Québec agreement as reasons for optimism. But it also warns the province still faces ongoing deficits and rising debt. Morningstar says the risks remain balanced and the province’s credit outlook is stable.
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