Finance
December 4, 2013

Provincial Government Remains Focused on Long-Term Prosperity

DBRS Confirms Newfoundland and Labrador’s Credit Rating at A

Dominion Bond Rating Services (DBRS) has today confirmed Newfoundland and Labrador’s credit rating at A, with trends remaining stable. The report reflects the Provincial Government’s demonstrated fiscal discipline, manageable debt burden, strong liquidity position, significant energy resources and a competitive personal income tax structure as strengths in maintaining the rating.

“We are encouraged that DBRS has maintained the province’s credit rating at A, which reflects confidence in our government’s record of prudent fiscal management. This is the third rating agency in recent months to maintain our province’s credit rating.”
- The Honourable Tom Marshall, Minister of Finance and President of Treasury Board

DBRS noted that renewed fiscal resolve will be required to achieve a fiscal balance and acknowledged that the Provincial Government’s 10-Year Sustainability Plan illustrates “the province’s willingness to tackle its pressing challenges, and commitment to fiscal soundness.”

Through sound fiscal management and responsible decisions, the Government of Newfoundland and Labrador is strengthening the business environment, encouraging the development of innovative industries, and building a vibrant economy.

QUICK FACTS

• DBRS has maintained the province’s credit rating at A.
• DBRS is the third agency in recent months to renew the province’s credit rating. Moody’s and Standard & Poor’s have also affirmed ratings for the province.

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Media contact:
Tansy Mundon
Director of Communications
Department of Finance
709-729-6830, 693-1865
tansymundon@gov.nl.ca 

2013 12 04                                        5:00 p.m.