Summary: Nova Scotia (Province of)

Standard & Poors, May 2011

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.

Abstract
The ratings on the Province of Nova Scotia reflect Standard & Poor's Ratings Services' view of the following factors: The recession did not hit Nova Scotia's economy as hard as most other provincial economies. Real GDP was virtually unchanged in 2009 from the previous year and nominal GDP increased almost 1%. Although employment actually edged down by a minor amount, the unemployment rate rose to 9.2% in 2009 from 7.7% a year earlier. Nova Scotia's employment loss was substantially better than Canada's decline of 1.6%. Labor force results for 2010 were status quo: at the end of 2010, the unemployment rate stood at 9.3% and employment edged up slightly. For 2010 and 2011, we expect real GDP gains of 1.9%...

Companies mentioned in this report are: Nova Scotia (Province of),Scotia Schools Trust,Borealis Infrastructure Trust (Nova Scotia Learning Centre Bonds)
Action: Affirmed

Nova Scotia (Province of),Scotia Schools Trust,Borealis Infrastructure Trust (Nova Scotia Learning Centre Bonds)

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