Newfoundland and Labrador, Province of: Rating Report

On August 17, 2023, DBRS Limited (DBRS Morningstar) upgraded the Province of Newfoundland and Labrador’s (Newfoundland or the Province) Issuer Rating and Long-Term Debt rating to "A" from A (low) along with the Guaranteed Long-Term Debt of Newfoundland and Labrador Hydro and the trend on all long-term ratings has been changed to Stable from Positive. Concurrently, DBRS Morningstar confirmed both the Province’s Short-Term Debt rating and Newfoundland and Labrador Hydro’s Guaranteed Short- Term Debt at R-1 (low) with Stable trends.