Standard and Poor's downgrades Alberta's credit rating a second time

[Locutus]

#thanksnotley

Province's rating goes from AA+ to AA over reluctance to introduce taxes to tackle low revenue


Standard and Poor's has downgraded Alberta's credit rating for the second time in five months.

The bond rating agency has dropped Alberta's rating from AA+ to AA. It last downgraded Alberta in December when it removed the province's long-lauded triple-A rating.

"The negative outlook reflects continuing uncertainty about the province's willingness to take additional fiscal measures to improve its structural budget shortfalls within the next two years," the rating agency said.


mo


Standard and Poor's downgrades Alberta's credit rating a second time - Edmonton - CBC News

 

[Mowich]

Hmmmn...........maybe not such a good time to be raising taxes with some of the highest paying jobs gone and all the revenue with them. Add in all that Alberta is going through trying to cope with the fire situation, getting Fort Mac residents home and back in their lives again and watching as as large part of their revenue stream is cut off due to the fire situation. Who is there to tax?

 

[Johnnny]

I'm not trying to pick on one group but it's probably better to be a refugee in Canada right now than a home grown boy or girl. Cause they earn more through handouts than some of us can earn honestly...

 

[Danbones]

one of those rating agencies that gave all those re bundled mortgage backed securities a AAA rating?

 

[MHz]

How many more before Quebec is sending us support payments??

I'm not trying to pick on one group but it's probably better to be a refugee in Canada right now than a home grown boy or girl. Cause they earn more through handouts than some of us can earn honestly...

You have any idea what you have to go through to become a refugee from a war-zone? Think Ft Mac with invisible flames and the same heat.

 

[Locutus]

Red Rose Country

By Kate on May 20, 2016 10:52 AM | 5 Comments



Premier Downgrade will not be denied: Alberta will need an injection of at least $16 billion invested in new electrical generation as the province phases out coal power in the coming years.

 

[MHz]

I hear NG is going to be in a surplus mode soon, they can also spin a turbine as big as you can build it, perhaps on the site of the decommissioned coal fired ones. Build enough to export power to Ontario and Quebec and that way the equalization payment just come back home.

 

[captain morgan]

NG has been in surplus here for a lot of years.

I know a number of companies that are reinejcting the NG to act as an oil recovery enhancement technique... Basically the value of the NatGas is greater to inject than it is to sell on the open markets

 

[IdRatherBeSkiing]

I don't think more tax increases are the answer. But if you are going to be running deficits and borrowing money, the credit rating will add to your cost of borrowing.

 

[tay]

Saudi Arabia’s credit rating has been downgraded by Moody’s because of the long and deep slump in oil prices.

Moody’s Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar.

Saudi Arabia is the world’s largest oil exporter. Moody’s cut the country’s long-term issuer rating one notch to A1 from Aa3 after a review that began in March.

Crude prices fell from more than $100 in mid-2014 to under $30 a barrel in February, although they have recovered into the mid-$40s. Benchmark international crude settled Friday at $47.83 a barrel.

“A combination of lower growth, higher debt levels and smaller domestic and external buffers leave the Kingdom less well positioned to weather future shocks,” Moody’s said in a note.

Moody’s lowered Oman to Baa1 from A3 and Bahrain to Ba2 from Ba1. The ratings agency did not downgrade Kuwait, Qatar, the United Arab Emirates or Abu Dhabi, but it assigned a negative outlook to each.

Oil prices slumped because of production that grew faster than demand. Surging production from shale operators in the United States contributed to the glut. So did the Organization of Petroleum Exporting Countries, which decided in November 2014, several months after prices began falling, to continue pumping rather than give up market share.

Moody's downgrades Saudi Arabia on lower oil prices

 

[captain morgan]

Moodys hasn't downgraded Sask.... Any thoughts on that?

 

[Curious Cdn]

How many more before Quebec is sending us support payments??


You have any idea what you have to go through to become a refugee from a war-zone? Think Ft Mac with invisible flames and the same heat.

Wow! YOU were at the Canucks riot?

 

[MHz]

NG has been in surplus here for a lot of years.

I know a number of companies that are reinejcting the NG to act as an oil recovery enhancement technique... Basically the value of the NatGas is greater to inject than it is to sell on the open markets

That's not quite how it works, NG is injected under pressure and that pressure pushes the oil up (usually heavy oil) and when the well is dry the gas is extracted.

Moodys hasn't downgraded Sask.... Any thoughts on that?

They probably have to look the name up. It's like the name Winnerpeg, most people have heard the name just not real sure where it is exactly.

Wow! YOU were at the Canucks riot?

I was?? Been waking up with lumps on my head lately, must be powerful dreams eh?