On June 12, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Québec at AA (low) as well as its Short-Term Debt rating at R-1 (middle). Concurrently, DBRS Morningstar confirmed the Guaranteed Long-Term Debt and Commercial Paper ratings of Hydro-Québec at AA (low) and R-1 (middle), respectively, as well as the Long-Term Debt and Short-Term Debt ratings of Financement-Québec at AA (low) and R-1 (middle), respectively. The trend on all ra...
On June 8, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and the Long-Term Debt rating of the Province of Ontario (Ontario or the Province) at AA (low) and the Short-Term Debt rating at R-1 (middle). DBRS Morningstar also confirmed the Ontario Electricity Financial Corporation’s Long-Term Obligations rating at AA (low) (based on the Province's rating). Concurrently, DBRS Morningstar changed the trends on all ratings to Positive from Stable.
On May 26, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of New Brunswick (New Brunswick or the Province) at A (high) and its Short-Term Debt rating at R-1 (middle). Concurrently, DBRS Morningstar confirmed the Guaranteed Long-Term Liabilities and Guaranteed Short-Term Liabilities ratings of New Brunswick Municipal Finance Corp. at A (high) and R-1 (middle), respectively. All trends are Stable.
The Province of Prince Edward Island (rated "A" with a Stable trend by DBRS Morningstar) presented its 2023–24 budget on May 25, 2023. While significant external risks persist, economic growth will likely remain positive. The re-election of the Progressive Conservative Party as a majority government ensures a continuation of policy and key fiscal priorities in the Province. However, DBRS Morningstar notes that a weaker fiscal outlook and rising debt will reduce flexibility within the current rat...
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