Provinces credit rating stays steady

Staff ~ The Telegram
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The provincial government has maintained a stable credit rating of Aa2 from Moody's Investor Services, Finance Minister Tom Marshall announced today.
"I'm pleased to see affirmation that our province continues to maintain a steady financial position while navigating the rough waters of the current economic climate," Marshall said in a statement.
The Moody's report highlights reduction in debt levels and revenue growth in non-renewable resources as positive factors, Marshall noted, while cautioning that revenues are subject to the volatile nature of the oil market.
"We cannot relax our fiscal prudence," said Marshall. "Our efforts to pay down the debt and make sustainable investments to stimulate the economy are working and we will maintain this approach."
Moody's Investor Services is an independent credit rating agency - one of three that regularly rates the finances of the provincial government.
The Department of Finance will provide an economic and fiscal update later this fall.

Organizations: Moody's, Investor Services, Department of Finance

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Recent comments

  • joan
    July 02, 2010 - 13:32

    the credit rateing in nl.is about as stable as the unemployment rate.What would peaple rather see?someone with a job ,or someone get a cheap loan?

  • Sam
    July 02, 2010 - 13:27

    Thank you Joan; no fun in looking at these comments if people like you are not making moronic statements.

    Speaking of morons, where's Nasty Nate today?

  • Bones II
    July 02, 2010 - 13:19

    Joan: LOL You Do realize a job is an essential component to getting a loan, right? Unless you know somebody who hands out loans to those that have no way of paying it back?

  • Taxpayer ll
    July 02, 2010 - 13:13

    Joan b'y, the provincial credit rating has nothing to do with consumer loans. It has to do with how much money it costs taxpayers to service the debt incurred by succesive liberal govs.
    The entire world is comming out of one of the worst recessions in memory, and employment is a lagging indicator. If you want to crap on our current gov. there are plenty of actual things to bi*ch about.

  • Saucy Face
    July 02, 2010 - 13:12

    Oooooohhhh ... That bad old Danny Williams!!!! Someone has got to stop him and put an end to this fiscal responsibilty! It seems that every second day we hear good economic news due to his leadership and we can't have that ... C'mon Ms. Jones, get elected so we can stop this madness!

  • joan
    July 01, 2010 - 20:21

    the credit rateing in nl.is about as stable as the unemployment rate.What would peaple rather see?someone with a job ,or someone get a cheap loan?

  • Sam
    July 01, 2010 - 20:15

    Thank you Joan; no fun in looking at these comments if people like you are not making moronic statements.

    Speaking of morons, where's Nasty Nate today?

  • Bones II
    July 01, 2010 - 20:01

    Joan: LOL You Do realize a job is an essential component to getting a loan, right? Unless you know somebody who hands out loans to those that have no way of paying it back?

  • Taxpayer ll
    July 01, 2010 - 19:52

    Joan b'y, the provincial credit rating has nothing to do with consumer loans. It has to do with how much money it costs taxpayers to service the debt incurred by succesive liberal govs.
    The entire world is comming out of one of the worst recessions in memory, and employment is a lagging indicator. If you want to crap on our current gov. there are plenty of actual things to bi*ch about.

  • Saucy Face
    July 01, 2010 - 19:49

    Oooooohhhh ... That bad old Danny Williams!!!! Someone has got to stop him and put an end to this fiscal responsibilty! It seems that every second day we hear good economic news due to his leadership and we can't have that ... C'mon Ms. Jones, get elected so we can stop this madness!