Moody downgrades Alberta's economic outlook from stable to negative
http://www.cbc.ca/news/canada/edmont...vice-1.3409406
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Moody's Investors Service has changed its outlook on the Alberta economy from "stable" to "negative" and says the situation will get worse unless the province's NDP government takes action.
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Without corrective fiscal action, this will lead to higher than planned fiscal deficits and lower liquidity than forecasted in the 2015-16 provincial budget, resulting in more rapid and higher debt accumulation across the medium term." Moody's said Alberta can regain a "stable" outlook if it limits debt and debt-servicing costs by meeting the forecasts in that budget, tabled in October, predicting a $6.1-billion deficit for the end of the fiscal year in March 2016.
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My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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