Business, News, Politics June 11th, 2026 S&P Global Ratings is warning the Newfoundland and Labrador government could face a credit rating downgrade in the next two years if it doesn’t take meaningful action to address its debt and deficits. The agency held the province’s credit rating at “A”, but changed the outlook from stable to negative. A downgrade could happen even if the province achieves a new deal for Churchill Falls.