DBRS Revises Province's Outlook to Positive

Nova Scotia's strong fiscal discipline has resulted in Dominion Bond Rating Service (DBRS) revising the province's outlook from stable to positive.

In reaffirming Nova Scotia's A rating, DBRS cites "the province's successful efforts to restrain spending growth and its demonstrated ability to meet or exceed fiscal targets."

"We continue to see the positive results of our Back to Balance plan, which has put Nova Scotia on a sustainable path," said Finance Minister Maureen MacDonald. "This change in our province's outlook reflects the progress we have made and optimism for the future.'

DBRS notes program expenditures have come under budget three years in a row and the province continues to show restraint in the face of rising costs. The agency also highlighted that spending growth continues to remain below historical trends.

Standard and Poor's rating agency confirmed its A-plus rating on June 4 with a stable outlook for Nova Scotia.

"Returning Nova Scotia's books to balance is a core priority of the government and we remain committed to introducing a balanced budget next year," said Ms. MacDonald.