Report title: Nova Scotia, Province of
from Moody's Global Credit Research
8 page (3773 word) report published Dec 14, 2006

Price $300.00 available for immediate download
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...The Province of Nova Scotia s Aa2 debt rating, with stable outlook, re flects the government s commitment to main- taining balanced budgets and achieving de bt reduction, which, in conjunction with economic gains in recent years, has resulted in an easing of the province s debt burden. The rating also reflects the application of Moody s Joint Default Analysis (JDA) methodology, which incorporates a baseline cr edit assessment of 5 (on a scale of 1 to 21, where 1 repre- sents the equivalent risk of Aaa, 2 represents Aa1 and so fo rth), a 80% probability of extrao rdinary action by the federal government to prevent a default by No va Scotia, a Aaa rating on the Government of Canada and a 90% degree of default dependence (degree to which the default probabilities of the prov ince and the federal government are corre- lated). Our separately published credit opinion provides a discussion of the application of the JDA methodology. ...

Report Type: Analysis
Issuer: Nova Scotia, Province of
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