Moody’s cites weak economy in downgrading Alberta credit rating
EDMONTON – The Alberta government’s credit rating has taken another hit
Moody’s Investors Service has downgraded the province’s rating to Aa2 stable from Aa1 negative.
The rating service cites weakness in the provincial economy that remains concentrated and dependent on non-renewable resources mainly oil.
It says reliance on such resource revenue causes volatility in financial performance and remains pressured by a lack of sufficient pipeline capacity to transport oil efficiently.