Moody’s downgrades Alberta citing non-renewable dependance
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 ...
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