Release:
(April 6, 2011)  The most recent Standard & Poor's Ratings Services
outlook for HRM of positive from stable is a good sign for the region,
Mayor Peter Kelly said today.

On April 5, 2011, Standard & Poor's Ratings Services revised its
outlook for the region and affirmed its 'A+' long-term issuer credit
rating.

"This positive outlook, along with a steady economic performance, a
real GDP increase of three percent in 2010 and an unemployment rate
which continues to outpace the province, should help retain and attract
business to the region," Mayor Kelly said.

Standard and Poors cited HRMs increasing and robust liquidity levels,
along with its view of adequate budgetary and moderate economic
performance as its reasons for the revision.

The agency did qualify its decision regarding the municipality's credit
strength with two other factors – that being HRMs current limited
financial flexibility and moderate debt burden.

Standard and Poor's is an international rating agency that analyzes and
reports on financial performance.