DBRS Discontinues Short-Term Rating of Newfoundland and Labrador Municipal Financing Corporation

DBRS has today discontinued the short-term rating of Newfoundland and Labrador Municipal Financing Corporation (NMFC) as the short-term program is no longer in use and there are no short-term liabilities outstanding.

NMFC is a Crown agency with a primary mandate to provide long-term capital financing to municipalities. The Province is no longer actively using NMFC as a vehicle to provide financing to municipalities and the Corporation is in the process of winding up operations. NMFC will continue to collect loan receivables and repay outstanding long-term debt until the final maturity in 2020.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodologies are Rating Canadian Provincial Governments (August 2012) and Rating Agents of the Crown (June 2012), which can be found on our website under Methodologies.