A third major bond-rating agency has given Nova Scotia a positive outlook, reflecting the province’s improving fiscal position. Standard and Poor’s Ratings Services announced on Tuesday, Sept. 27, that it revised its outlook on Nova Scotia’s long-term debt to positive from stable. The bond-rating agency said in a release that the credit rating reflects the Nova Scotia government’s “significant progress” in reducing the province’s debt and its “sustained improvement” in fiscal performance in the last several years. Dominion Bond Rating Service and Moody’s Investors Service also changed the trend on Nova Scotia’s long-term debt to positive from stable in the summer. Finance Minister Peter Christie said it is encouraging to have another bond-rating agency recognize the province’s sustained efforts to improve Nova Scotia’s financial performance.
Demand for new HGVs falls -3.6% in Q3 2016, with 11,242 units registered.Rigid vehicles keep market buoyant, up 5.6% compared with the same quarter last year.Year-to-date market remains strong, with registrations up 6.2% – the highest since 2008. Download the full release and data table. The new heavy goods vehicle (HGV) market declined -3.6% in the third quarter of 2016, according to figures released by the Society of Motor Manufacturers and Traders. The fall in demand follows five consecutive quarters of growth, and year-to-date the market remains strong, with registrations up 6.6% against the same period in 2016.Demand for rigid vehicles continued to increase in quarter three, with registrations of vehicles in the >6-16T and >16T segments recording growth, up 6.1% and 5.3% respectively. Continuing a trend set in 2016, registration of 3-axle artics fell by -17.3% following substantial growth of 38.6% in this segment the previous year.Mike Hawes, SMMT Chief Executive, said,Disruption to fleet renewal patterns, triggered by regulatory changes, resulted in a significant rise in registration volumes last year. Therefore it’s no surprise to see a comparative decline in the truck market at this point in 2016. Despite the decline, the HGV market remains strong, with year-to-date registrations ahead of the same period last year, and now at the highest level in eight years. Maintaining economic certainty for operators will be key to the sector’s ongoing success. Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)