Moody’s downgrades Alberta citing non-renewable dependance

alberta fotolia 230x150
By Burhan Khadbai
04 Dec 2019

Moody's downgraded the Province of Alberta a notch on Tuesday with the rating agency blaming a “structural weakness” in the region’s economy through its dependence on non-renewable energy such as oil.

Moody’s lowered its long term rating on Alberta from Aa1 to Aa2.

The agency said the downgrade reflected “a structural weakness in the provincial economy that remains concentrated and dependent on non-renewable resources — primarily oil — which causes volatility in financial performance, and remains pressured by a ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.