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Research Update: Province of New Brunswick 'AA-' Ratings Affirmed On As-Expected Financial Performance; Outlook Negative Jun 11 Product Image

Research Update: Province of New Brunswick 'AA-' Ratings Affirmed On As-Expected Financial Performance; Outlook Negative Jun 11

  • ID: 1827755
  • June 2011
  • Standard & Poors

Abstract
We are affirming our ratings on the Province of New Brunswick, including our 'AA-' long-term issuer credit rating on New Brunswick and 'AA-' senior secured debt rating on New Brunswick (F-M) Project Co. Inc. The outlook is negative. The rating affirmation reflects our view of the province's weak budgetary performances and rising debt burden. The ratings also reflect the province's ample liquidity support from its large sinking funds. The negative outlook reflects our expectation that New Brunswick's budget plan will not be enough to return the province to a balanced budget position in the medium term. On June 3, 2011, Standard & Poor's Ratings Services affirmed its ratings on the Province of New Brunswick, including its 'AA-' long-term issuer credit...

Companies mentioned in this report are: New Brunswick (Province of),New Brunswick (F-M) Project Co., Inc.
Action: Affirmed

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

New Brunswick (Province of),New Brunswick (F-M) Project Co., Inc.

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