reports
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Thomas R. Torgerson
- Travis Shaw
- Aditi Joshi
- Thomas R. Torgerson
- Travis Shaw
Saskatchewan's 2023–24 Budget: Swiftly Back to Balance
The Province of Saskatchewan (the Province; rated AA (low) with a Stable trend by DBRS Morningstar) presented its 2023–24 budget on March 22, 2023. Prudent fiscal management and a recovery in resource revenues have resulted in a swift return to balance and a quickly declining debt-to- GDP ratio. Because of the recent turnaround in its fiscal trajectory, the Province is well-positioned to withstand a deteriorating macroeconomic backdrop and potential commodity price volatility without materially ...
- Aditi Joshi
- Thomas R. Torgerson
- Travis Shaw
Province of Alberta Budget 2023—Charting a New Fiscal Framework
The Province of Alberta released its 2023 budget on February 28, 2023. The Province's finances have improved dramatically from the early onset of the Coronavirus Disease (COVID-19) pandemic, with Alberta anticipating a large surplus in 2022–23 followed by a continuation of small surpluses and gradual decline in debt through 2025–26. Strong energy prices are allowing Alberta to realize record nonrenewable resource royalties, while the government has also worked to bring per capita spending down i...
- 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.
- Aditi Joshi
- Travis Shaw
Alberta, Province of: Rating Report
On September 16, 2022, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Alberta at AA (low), as well as its Short-Term Debt rating at R-1 (middle). Concurrently, DBRS Morningstar changed the trends on all ratings to Positive from Stable.
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Apurva Khandeparker
- Travis Shaw
Newfoundland and Labrador, Province of: Rating Report
On August 17, 2022, DBRS Limited (DBRS Morningstar) confirmed the Province of Newfoundland and Labrador’s Issuer Rating and Long-Term Debt rating at A (low) and Short-Term Debt rating at R-1 (low). Concurrently, DBRS Morningstar confirmed Newfoundland and Labrador Hydro’s Guaranteed Long-Term Debt at A (low) and Guaranteed Short-Term Debt at R-1 (low). The trends on all ratings are Stable.
- Aditi Joshi
- Apurva Khandeparker
- Travis Shaw
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Apurva Khandeparker
Province of Saskatchewan 2022 Budget: Gaining a Sure Footing
The Province of Saskatchewan released its 2022–23 provincial budget on March 23, 2022. This budget suggests a stronger-than-expected recovery reflecting the Province’s expectations of ongoing economic momentum, higher average resource prices, and strict spending control in the near term. Key investment priorities remain focused on healthcare, education, social assistance, economic recovery, and public safety.
- Aditi Joshi
- Travis Shaw
Province of Alberta Budget 2022—Stemming the Tide of Rising Debt
The Province of Alberta released its 2022 budget on February 24, 2022. The Province's fiscal and debt outlook continue to improve—a trend that began in Q1 last year—helped by a strong recovery in provincial revenues (notably resource royalties) and demonstrated spending restraint. In December 2021, DBRS Morningstar changed the trend on Alberta's Issuer Rating and Long-Term Debt rating to Stable from Negative, and this budget reaffirms that the erosion in Alberta's credit profile has stopped.
- Aditi Joshi
- Travis Shaw
Alberta, Province of: Rating Report
On December 9, 2021, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Alberta (Alberta or the Province) at AA (low), as well as its Short-Term Debt rating at R-1 (middle). DBRS Morningstar changed the trends on both long-term ratings to Stable from Negative, while the trend on the short-term rating remains Stable.
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Travis Shaw
Newfoundland and Labrador, Province of: Rating Report
On September 2, 2021, DBRS Limited (DBRS Morningstar) changed the trends on the Province of Newfoundland and Labrador’s (Newfoundland or the Province) Issuer Rating and Long-Term Debt rating to Stable from Negative and changed the trend on the Guaranteed Long-Term Debt of Newfoundland and Labrador Hydro to Stable from Negative. DBRS Morningstar also confirmed the Province’s Issuer Rating and Long-Term Debt rating at A (low) and confirmed its Short-Term Debt at R-1 (low). Concurrently, DBRS Morni...
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Travis Shaw
Saskatchewan, Province of: Rating Report
On July 19, 2021, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and both the Long-Term Debt and Short- Term Debt ratings of the Province of Saskatchewan (Saskatchewan or the Province) at AA (low), AA (low), and R-1 (middle), respectively. All trends are Stable.
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Travis Shaw
Province of Newfoundland and Labrador Budget 2021 - Charting a Fiscal ...
The Province of Newfoundland and Labrador (Newfoundland or the Province; rated A (low) with a Negative trend by DBRS Morningstar) released its 2021 budget on May 31, 2021. This is Newfoundland's first budget following a drawn-out election that saw the Liberal Party win a majority government in March 2021 in the Province's first mail-in-only election.
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