{"id":731937,"date":"2026-06-12T12:30:10","date_gmt":"2026-06-12T12:30:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/731937\/"},"modified":"2026-06-12T12:30:10","modified_gmt":"2026-06-12T12:30:10","slug":"finance-minister-relieved-as-sp-maintains-credit-rating-despite-negative-outlook","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/731937\/","title":{"rendered":"Finance Minister Relieved as S&P Maintains Credit Rating Despite Negative Outlook"},"content":{"rendered":"

\t\t\t\t <\/p>\n

\t\t\t\t\"Finance<\/p>\n

Finance Minister Craig Pardy (VOCM News)<\/p>\n

Finance Minister Craig Pardy is relieved that bond rating agency S&P Global Ratings has not downgraded the province\u2019s credit rating, and he says work is underway to ensure that doesn\u2019t happen.<\/p>\n

While there is no immediate change in the province\u2019s credit rating, S&P revised its economic outlook for Newfoundland and Labrador from Stable to Negativ<\/a>e based on the province\u2019s risk of accumulating more deficits.<\/p>\n

The agency cited new affordability measures and higher healthcare costs as adding to the province\u2019s \u201calready high\u201d and growing debt burden.<\/p>\n

Minister Pardy says that is a concern for the province as well.<\/p>\n

He told reporters yesterday that the government is working to get spending under control.<\/p>\n

Pardy says government is committed to honouring its promises on affordability and \u201cafter we helped out Newfoundlanders and Labradorians, we were then going to look at our internal, fiscal house.\u201d<\/p>\n

He\u2019s hopeful that Moody\u2019s will look at the province\u2019s fiscal situation the same way as well.<\/p>\n

\"\"<\/a><\/p>\n

John Hogan<\/p>\n

The Opposition is not surprised that the province\u2019s economic outlook has been downgraded from stable to negative.<\/p>\n

In 2022, the province\u2019s outlook was upgraded from negative to positive, with that stable designation being maintained until this year.<\/p>\n

Leader John Hogan says with the decision to cut the Future Fund and a budget that forecast billion dollar deficits for the next five years, \u201cit\u2019s no surprise that credit rating agencies have less confidence\u201d in the province\u2019s long-term outlook.<\/p>\n","protected":false},"excerpt":{"rendered":" Finance Minister Craig Pardy (VOCM News) Finance Minister Craig Pardy is relieved that bond rating agency S&P…\n","protected":false},"author":2,"featured_media":731938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48],"class_list":["post-731937","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/731937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=731937"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/731937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/731938"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=731937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=731937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=731937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}