Research Update: Province of Prince Edward Island Outlook Revised To Positive From Stable; 'A' Rating Affirmed On Improving Finances

The Province of Prince Edward Island (PEI) continues to attract international immigration, helping to bolster relatively strong economic growth. Increasing operating revenue will help PEI in its efforts to achieve fiscal balance in the next several years while its debt burden will remain low relative to that of most Canadian provinces. As a result, S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A' long-term issuer credit and senior unsecured debt ratings on PEI, and its 'A-1' short-term issuer credit rating on the province. The positive outlook reflects our expectation that the province's budgetary performance will materially improve in the next two years as economic growth continues. On July 31, 2023, S&P Global Ratings revised the

...- The Province of Prince Edward Island (PEI) continues to attract international immigration, helping to bolster relatively strong economic growth. - Increasing operating revenue will help PEI in its efforts to achieve fiscal balance in the next several years while its debt burden will remain low relative to that of most Canadian provinces. - As a result, S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A' long-term issuer credit and senior unsecured debt ratings on PEI, and its 'A-1' short-term issuer credit rating on the province. - The positive outlook reflects our expectation that the province's budgetary performance will materially improve in the next two years as economic growth continues....

Research Update