Newfoundland and Labrador, Province of: Rating Report

On August 23, 2018, DBRS Limited (DBRS) confirmed the Issuer Rating of the Province of Newfoundland and Labrador (Newfoundland or the Province) at A (low), as well as its Long-Term Debt and Short-Term Debt ratings at A (low) and R-1 (low), respectively. All trends remain Stable. While fiscal and economic conditions remain challenging for Newfoundland, the fiscal recovery plan remains on track, which is helping to contain debt growth and has contributed to a modest improvement in financial risk metrics.