A leading credit rating agency has downgraded New Brunswick’s fiscal outlook from stable to negative in light of the provincial government’s grim deficit and debt projections.
Moody’s Ratings shifts province’s financial picture from stable to negative
Jacques Poitras · CBC News
· Posted: Apr 10, 2026 4:36 PM EDT | Last Updated: 2 hours ago
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Finance Minister René Legacy says the Moody’s Ratings change was not a lowering of the province’s credit rating but an outlook adjustment. (Michael Heenan/CBC)
A leading credit rating agency has downgraded New Brunswick’s fiscal outlook from stable to negative in light of the provincial government’s grim deficit and debt projections.
Moody’s Ratings said Friday it was moving the province’s baseline credit assessment from Aa2 to Aa3, though Finance Minister René Legacy said this was not a lowering of the rating.
“Moody’s has not changed the province’s credit rating but has adjusted the outlook from stable to negative,” he said in a statement.
“They will be monitoring how we move forward with our plan to grow the economy and manage our expenses. We welcome that scrutiny as we look to implement our plans and become more efficient.”
The Holt Liberals are projecting a $1.39 billion deficit in the current 2026-27 fiscal year,
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