Bond-rating agency gives Nova Scotia its highest credit rating yet
Nova Scotia Premier Stephen McNeil talks with reporters at the legislature in Halifax on Wednesday, May 31, 2017. (THE CANADIAN PRESS / Andrew Vaughan)
THE CANADIAN PRESS
Published Tuesday, September 18, 2018 10:32AM ADT
Last Updated Tuesday, September 18, 2018 10:33AM ADT
HALIFAX -- The Nova Scotia government says Standard and Poor's has upgraded the province's long-term credit rating to its highest ever.
In a news release, the province says the rating was upgraded from A+ to AA-, with a stable outlook.
The province says the bond rating agency cited "strong fiscal management," and that Standard and Poor's credit report notes Nova Scotia is expected to outperform most Canadian provinces in the next two years.
In March, the government tabled its 2018-19 budget, which projected a third consecutive surplus of $29.4 million.
Much of the fiscal progress came after contract strife with public sector unions, including teachers and health care workers.
In a statement, Premier Stephen McNeil says the government has "worked hard with Nova Scotians" to put the province on the right fiscal path.
"More people are working in Nova Scotia than ever before, exports are booming and our population is at an all-time high," said McNeil.
"This credit rating is yet another sign that we are moving in the right direction as we build a stronger province together, where everyone can grow and succeed."