Quote: Originally Posted by Curious Cdn
Moody’s downgrades Alberta’s credit rating over weak economy reliant on oil | Financial Post
The one industry town is in trouble, again .... boom ..."Man, are we ever good!" ... bust ... We're VICTIMS of those goddam Easterners!" ... boom ... " We're the smartest! We're the greatest! Everyone East of Manitoba is a lazy, shiftless bum!" ... bust ... "We're going to separate because those goddam Easterners won't let us run the country! It ain't democratic just 'cause there's so many of them!"
TORONTO - Bond rating agency Moody's has downgraded the province of Ontario's credit rating.
The agency announced the downgrade from Aa3 to Aa2 today, citing the province's $14.5-billion deficit in 2018-2019 and projections that it will continue to post deficits in the coming years.
Moody's says the combination of increased debt and slow revenue growth will result in a faster than previously anticipated increase of the province's debt burden.
The agency says the province will be subject to greater impact of interest rates increases, which it projects to jump over the next three to five years.
Finance Minister Vic Fedeli blamed the previous Liberal government for the creating the circumstances that have led to the credit downgrade.
But Moody's also says that actions taken by the current government to reduce revenue levels will add to the budgetary pressures facing the province.
Those American wannabes down in Canada's penis need to change their one horse auto parts economy into a diverse portfolio.
Last edited by petros; Dec 6th, 2019 at 09:14 AM..