Province’s credit rating reaffirmed25 June 2018
FREDERICTON (GNB) – Standard and Poor’s, a global credit rating agency, has reaffirmed New Brunswick’s A+ credit rating with a stable outlook.
“Your government has a fiscal plan in place, and that plan is working,” said Finance Minister Cathy Rogers. “We are taking a balanced approach that allows us to reduce the deficit while making strategic investments in priority areas like health care and education. The economy is 5.5 per cent larger than it was in 2014; wages and exports have gone up every year; the unemployment rate has gone down, and New Brunswick has seen its largest population ever recorded. By playing to our strengths and natural advantages, your government is making sure this province continues to be a great place to live, work and raise a family.”
Standard and Poor’s identified a number of credit strengths for the province, including improvements in budgetary performance, economic growth and a well-managed institutional framework.
The New Brunswick Economy: 2017 in Review also reaffirmed the province’s economic performance. The economy continued to expand, marking four consecutive years of increased real GDP, with growth of 1.9 per cent in 2017.
In February, Dominion Bond Rating Service confirmed the A (high) rating with a negative trend. In April, Moody’s Investors Service affirmed the province’s Aa2 rating with a stable trend.25-06-18