By The Canadian Press

Moody’s Downgrades Alberta Credit Rating and Province Shells out for New Kananaskis Emergency Centre

Apr 26, 2016 | 6:11 AM

EDMONTON:  Finance Minister Joe Ceci says he’s disappointed Moody’s Investor Service has downgraded Alberta’s long-term debt rating to double-A1 from triple-A.

Moody’s has also given the province a negative outlook following the release of the April 14th budget that included removal of Alberta’s debt ceiling and a forecast debt of $58-billion by 2019.

The province is also forecasting oil prices to be higher than predictions from Moody’s.

Ceci, who is on a trip to Toronto and New York to meet with business leaders, says the budget clearly demonstrated the N-D-P government’s commitment to getting costs under control.

That being said, the Alberta government is funding an $18.5 million replacement for the Kananaskis Emergency Services Centre.

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The new facility will provide fire and advanced life support ambulance services for both residents and tourists, as well as a 24-hour dispatch centre.

Parks Minister Shannon Phillips says the investment will result in enhanced safety for Albertans and visitors to the province who are in Kananaskis Country.

The current centre was built in 1986 to support the 1988 Olympics.

Since then, calls to the centre have increased more than tenfold, averaging more than 5,000 calls per year.

The dispatch service also provides vital support for the Kananaskis Public Safety team, which is involved in 24/7 on-call response for back-country rescue and emergency services.