Rating Report

New Brunswick, Province of & Related Entities: Rating Report

Sub-Sovereign Governments, Other Government Related Entities

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DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of New Brunswick (New Brunswick or the Province) at A (high) and its Short-Term Debt rating at R-1 (middle). Concurrently, DBRS Morningstar confirmed the Guaranteed Long-Term Liabilities and Guaranteed Short-Term Liabilities ratings of New Brunswick Municipal Finance Corp. at A (high) and R-1 (middle), respectively. All trends are Stable, reflecting DBRS Morningstar's view that while financial risk metrics are expected to deteriorate in the near term because of the Coronavirus Disease (COVID-19), the impact is expected to be temporary and the government remains committed to fiscal sustainability and reducing debt in subsequent years.