Read on Twitter
Dec 2019 - UCP “structural weakness in the provincial economy that remains concentrated and dependent on non-renewable resources...which causes volatility...with no near-term expectation of a significant rebound in oil-related investments.”
https://chatnewstoday.ca/2019/12/04/albertas-credit-rating-downgraded/
https://chatnewstoday.ca/2019/12/04/albertas-credit-rating-downgraded/
"at a higher level than previously forecasted" So... it was UCP policy forcing the deficits higher...those were UCP decisions. They're telling you they downgraded because you're just making it worse without a viable recovery plan.
June 2020 - "Fitch said it downgraded Alberta due to “sharply higher provincial borrowing” during the current economic crisis, and the future recovery, which will raise its debt-to-GDP ratio."
They blame poor policies from now to 2025.
https://www.investmentexecutive.com/news/research-and-markets/alberta-downgraded-to-aa-by-fitch/
They blame poor policies from now to 2025.
https://www.investmentexecutive.com/news/research-and-markets/alberta-downgraded-to-aa-by-fitch/
Feb 27, 2020 - DBRS "downgraded Alberta’s Issuer Rating and Long-Term Debt rating to AA (low) from AA and its Short-Term Debt rating to R-1 (middle) from R-1 (high)...changed the trend on the province of Alberta’s Short-Term Debt to Stable from Negative."
https://calgaryherald.com/business/local-business/alberta-downgraded-by-credit-rating-agency/
https://calgaryherald.com/business/local-business/alberta-downgraded-by-credit-rating-agency/
May 2020 - "The negative outlook reflects the heightened risk that the pandemic disruption and oil price shock
could last longer than expected, which could weigh heavily on the province's important tax and oil
royalty revenues"
https://www.alberta.ca/assets/documents/investor-relations-credit-report-s-and-p-global.pdf
could last longer than expected, which could weigh heavily on the province's important tax and oil
royalty revenues"
https://www.alberta.ca/assets/documents/investor-relations-credit-report-s-and-p-global.pdf
I know I'm missing one, but you get the idea here...
Oct 2020 - "...downgrade follows the province's August 27 fiscal update for 2019-20 and 2020-21 that reflects a significantly faster debt accumulation and larger deficits than previously projected"
https://www.moodys.com/research/Moodys-places-Albertas-long-term-ratings-under-review-for-downgrade--PR_431281
Oct 2020 - "...downgrade follows the province's August 27 fiscal update for 2019-20 and 2020-21 that reflects a significantly faster debt accumulation and larger deficits than previously projected"
https://www.moodys.com/research/Moodys-places-Albertas-long-term-ratings-under-review-for-downgrade--PR_431281
