Nunavut, Government of: Rating Report

DBRS Limited (DBRS) assigned an Issuer Rating of AA (low) with a Stable trend to the Government of Nunavut (Nunavut or the Territory). The strong institutional framework is foundational to the credit profile. Enshrined in federal legislation, the institutional framework decouples the government’s finances from a weak underlying economy and results in stable government finances and a low debt burden. The Stable trend reflects DBRS’s view that the framework is unlikely to fundamentally change through the medium term. As such, DBRS expects budgetary results to remain strong and the debt burden low.