S&P downgrades Alberta's credit rating

[mentalfloss]

That Teflon oil industry eh?


S&P downgrades Alberta's credit rating

CALGARY -- Standard and Poor's has downgraded Alberta's credit rating on concerns of weak budgetary performances and rising debt burden.

The credit rating agency dropped the province's rating one notch from AAA to AA+ while still stating it expects the province's credit liquidity to be exceptional in the next two years.

S&P said the downgrade is based on "Alberta's projected oil price-driven weak budgetary performances in the next two years; moderate, but rapidly rising, tax-supported debt burden; and now-average economic prospects."

The province's long-term issuer credit and senior unsecured debt were downgraded to AA+, as was the senior unsecured debt rating on the Alberta Capital Finance Authority.

S&P said the stable outlook of the AA+ credit rating reflects its expectations that the province will continue to have exceptional liquidity in the next two years, the real GDP will grow in 2016 and 2017, and the debt burden will remain modest.

Alberta Finance Minister Joe Ceci has scheduled a conference call on the downgrade this afternoon.

S&P downgrades Alberta's credit rating | CTV News

 

[Walter]

Impossible. AB has a lefty gubmint.

 

[IdRatherBeSkiing]

Not surprising given the spending plans of the new government. This is clearly a black mark on them and shows nobody with money has any confidence in them.

 

[Locutus]

a troll's gotta troll.

but anyway...Province of Ontario Credit Ratings

 

[taxslave]

That Teflon oil industry eh?


S&P downgrades Alberta's credit rating

CALGARY -- Standard and Poor's has downgraded Alberta's credit rating on concerns of weak budgetary performances and rising debt burden.

The credit rating agency dropped the province's rating one notch from AAA to AA+ while still stating it expects the province's credit liquidity to be exceptional in the next two years.

S&P said the downgrade is based on "Alberta's projected oil price-driven weak budgetary performances in the next two years; moderate, but rapidly rising, tax-supported debt burden; and now-average economic prospects."

The province's long-term issuer credit and senior unsecured debt were downgraded to AA+, as was the senior unsecured debt rating on the Alberta Capital Finance Authority.

S&P said the stable outlook of the AA+ credit rating reflects its expectations that the province will continue to have exceptional liquidity in the next two years, the real GDP will grow in 2016 and 2017, and the debt burden will remain modest.

Alberta Finance Minister Joe Ceci has scheduled a conference call on the downgrade this afternoon.

S&P downgrades Alberta's credit rating | CTV News

Generally what happens whenever a dipper government gets control of the taxpayer's cheque book.

 

[Curious Cdn]

I hope that your economy stabilizes and that the unemployment rate stays low. ... a prayer for the new year.

 

[lone wolf]

How much kickback do they get from financiers for upping the return on investment?

 

[petros]

a troll's gotta troll.

but anyway...Province of Ontario Credit Ratings

What's 2%? That's nothing!

But AB will be just fine in a short time. Beef is going to be bigger than ever now that we landed a gig to feed 2 Billion Asians.

And bbls per day just keep increasing. Volume.

 

[Locutus]

What's 2%? That's nothing!

But AB will be just fine in a short time. Beef is going to be bigger than ever now that we landed a gig to feed 2 Billion Asians.

And bbls per day just keep increasing. Volume.

it's all ontario has left is riding on previous ratings coat tails...a gimme province where a billion dollars ain't no thang. it's the 'hopefully' province these days.

 

[MHz]

Impossible. AB has a lefty gubmint.

It is our assets alone that give us the high rating.

 

[petros]

it's all ontario has left is riding on previous ratings coat tails...a gimme province where a billion dollars ain't no thang. it's the 'hopefully' province these days.

Expect crazy inflation to shrink debt. Unions love inflation.

 

[Locutus]

and the unions will balance themselves.

 

[Curious Cdn]

it's all ontario has left is riding on previous ratings coat tails...a gimme province where a billion dollars ain't no thang. it's the 'hopefully' province these days.

Will you still feel that way if transfer payments are made from Ontario to Alberta in a year or two? It has happened before and it is not outside the realm of possibility.

 

[Locutus]

Ontario to lose equalization payments as Alberta's economic fortunes fall - The Globe and Mail

 

[petros]

Will you still feel that way if transfer payments are made from Ontario to Alberta in a year or two? It has happened before and it is not outside the realm of possibility.

Won't happen. Alberta has a future.

 

[Curious Cdn]

Won't happen. Alberta has a future.

Canada from one end to the other has a brilliant future. I sure hope that you get the chance to actually get to know your country. Alberta is a (very nice) small part of it and every region has their strengths and weaknesses. It's a shame that you don't know more about Canada.

 

[lone wolf]

Expect crazy inflation to shrink debt. Unions love inflation.

Unions ARE inflation

 

[darkbeaver]

What's 2%? That's nothing!

But AB will be just fine in a short time. Beef is going to be bigger than ever now that we landed a gig to feed 2 Billion Asians.

And bbls per day just keep increasing. Volume.

You won't be feeding them GMOs. I think.

 

[Angstrom]

Will you still feel that way if transfer payments are made from Ontario to Alberta in a year or two? It has happened before and it is not outside the realm of possibility.

It will be, I can guaranty it as long as China and Russia want to use Chines currency to trade for oil prices for oil will remain low. And eventually Manufacturing in Ontario will return.

 

[darkbeaver]

It will be, I can guaranty it as long as China and Russia want to use Chines currency to trade for oil prices for oil will remain low. And eventually Manufacturing in Ontario will return.

I hope you're right, do tyou think people in general will return to self employment? I do. Or they'll starve in winter.

Sixty days of ancient type winter and we're gone., for a while. White people come from the dark of winter, halalooya.