Summary: Nova Scotia (Province of)
- ID: 1723050
- October 2007
- Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
The ratings on the Province of Nova Scotia reflect: The province's significant progress in reducing its net tax-supported debt burden in the past six fiscal years and expectations of continued debt reduction in the medium term. Nova Scotia's net tax-supported debt declined further to 29.7% in fiscal 2007 (year ended March 31) from 31.9% in fiscal 2006. Standard & Poor's Ratings Services expects that net tax-supported debt as a percent of GDP will continue to fall in the medium term, to about 27% by the end of fiscal 2010. The substantially improved transparency in the province's financial reporting practices. Nova Scotia was among the first provinces to consolidate its agencies' financial results as recommended by the Public Sector Accounting Board....
Companies mentioned in this report are: Nova Scotia (Province of)
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Nova Scotia (Province of)