reports
- Apurva Khandeparker
- Thomas R. Torgerson
- Travis Shaw
Nova Scotia's 2023 Budget: Persistent but Manageable Deficits
The Province of Nova Scotia (Nova Scotia; rated A (high) with a Stable trend by DBRS Morningstar) released its 2023 budget on March 23, 2023 (Budget 2023). Budget 2023 allocates substantial investments to healthcare, which continues to take centre stage of spring provincial budgets. The increased spending is accompanied by continued deficits and rising debt amid a macroeconomic slowdown, which is expected to reduce flexibility over the medium term. However, we note that Nova Scotia entered this ...
- Steven Lin
- Tom Li
- Steven Lin
- Tom Li
Nova Scotia Power Inc.: Rating Report
On December 20, 2022, DBRS Limited (DBRS Morningstar) downgraded Nova Scotia Power Inc.'s Issuer Rating and Unsecured Debentures & Medium-Term Notes rating to BBB (high) from A (low) and its Commercial Paper rating to R-2 (high) from R-1 (low). All trends are Stable.
- Steven Lin
- Tom Li
- Aditi Joshi
- Travis Shaw
Nova Scotia, Province of: Rating Report
On November 10, 2022, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Nova Scotia (Nova Scotia or the Province) at A (high) and confirmed the Province’s Short- Term Debt rating at R-1 (middle). Concurrently, DBRS Morningstar confirmed the Guaranteed Long-Term Debt and Guaranteed Short-Term Debt ratings of the Nova Scotia Municipal Finance Corporation at A (high) and R-1 (middle), respectively, and the Nova Scotia Power Finance Corporation'...
- Aditi Joshi
- Travis Shaw
- Ravikanth Rai
- Tom Li
- Aditi Joshi
- Travis Shaw
Provincial 2022–23 First Quarter Wrap-up—Rapid Fiscal Turnaround but M...
Most provinces have experienced a dramatic fiscal turnaround and appear well-positioned to outperform budget targets for 2022–23; however, these trends are unlikely to be sustained as the economic outlook becomes increasingly clouded. Notwithstanding these headwinds, the majority of DBRS Morningstar's provincial ratings currently have Stable trends as strong fiscal performance has contributed to financial flexibility at the current ratings.
- Ravikanth Rai
- Tom Li
- Ravikanth Rai
- Tom Li
- Aditi Joshi
- Travis Shaw
- Ravikanth Rai
- Tom Li
Nova Scotia Power Inc.: Rating Report
On December 2, 2020, DBRS Limited (DBRS Morningstar) confirmed Nova Scotia Power Inc.'s (NSPI or the Company) Issuer Rating and Unsecured Debentures & Medium-Term Notes rating at A (low). DBRS Morningstar also confirmed NSPI's Commercial Paper rating at R-1 (low). All trends are Stable.
- Ravikanth Rai
- Tom Li
- Paul Le Bane
- Travis Shaw
- Paul Le Bane
- Travis Shaw
Nova Scotia, Province of: Rating Report
DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Nova Scotia (Nova Scotia or the Province) at A (high) and confirmed the Province’s Short-Term Debt rating at R-1 (middle). Concurrently, DBRS Morningstar confirmed the Guaranteed Long-Term Debt and Guaranteed Short-Term Debt ratings of the Nova Scotia Municipal Finance Corporation at A (high) and R-1 (middle), respectively, and the Government Guaranteed Debt of the Nova Scotia Power Finance C...
- Ravikanth Rai
- Tom Li
- Paul Le Bane
- Travis Shaw
- Ram Vadali
- Ravikanth Rai
Nova Scotia Power Inc.: Rating Report
On November 29, 2019, DBRS Limited (DBRS Morningstar) confirmed the ratings of Nova Scotia Power Inc. (NSPI or the Company). All trends are Stable. The ratings reflect stable operations in the Company’s regulated utilities in the Province of Nova Scotia (the Province; rated A (high) with a Stable trend by DBRS Morningstar) and robust key credit metrics. The Stable trends reflect DBRS Morningstar’s expectation that NSPI’s key credit metrics will continue to remain supportive of the ratings.
- Ram Vadali
- Ravikanth Rai
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