New Brunswick (Province of) Jun 11
Standard & Poors, June 2011
Abstract
Solid liquidity support from large pool of sinking funds Relatively resilient economic performance during financial crisis Revenue support from the Canadian federal system Significant near-term weakness in budgetary results High and increasing tax-supported debt burden compared with that of peers Rising dependency ratios in the medium term from the province's aging population The ratings on the Province of New Brunswick reflect Standard & Poor's Ratings Services' view of the following credit strengths: The province's large pool of sinking funds, which totaled more than C$4.3 billion as at the end of fiscal 2011; New Brunswick's unfunded pension liabilities, which remained moderate compared with those of peers as at the end of fiscal 2011. Although asset returns improved since 2009, we believe...
Companies mentioned in this report are: New Brunswick (Province of),New Brunswick (F-M) Project Co., Inc.
Action: Review
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.
Research Type: Full Analysis
New Brunswick (Province of),New Brunswick (F-M) Project Co., Inc.
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