The rating on the C$125 million senior unsecured provincially guaranteed debt originally issued by the former New Brunswick Power Corp.'s (NB Power) and now an obligation of New Brunswick Electric Finance Corp. (NBEFC), continues to reflect the debt service guarantee of the Province of New Brunswick (AA-/Stable/A-1+). The ratings on the province reflect its slowly falling tax-supported debt burden, ample access to liquidity, and solid economic performance. These strengths are offset by a debt burden that is intermediate compared with similarly rated Canadian and international peers. The rating assigned to the C$125 million guaranteed issue is issue-specific and based on the issue-specific guarantee of the Province of New Brunswick and its risk profile. Standard & Poor's Ratings Services has not...
Companies mentioned in this report are: New Brunswick (Province of)
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