Alberta Set to Suffer Consequences of NDP Poor Financial Management
Posted on December 18, 2015 by James Teterenko
EDMONTON, AB - December 18, 2015 - Alberta Party Opposition Leader Greg Clark has serious concerns about Alberta’s financial future following S&P credit rating downgrade.
“We saw this coming,” said Clark. “This exact situation is why I asked the Minister of Finance multiple times if they had prepared a sensitivity analysis regarding a credit rating downgrade.
On Friday, S&P downgraded Alberta's credit rating from AAA to AA+, citing decreasing oil prices and poor budgetary performance.
“This is worrying because it impacts both existing debt, and the capital finance authority for any new issuing of debt.”
“This is a very serious problem, and the ND’s should have prepared a sensitivity analysis for this exact situation. At the very least this will increase our borrowing costs, and we know the full effects will be wider reaching in an already troubled economy.
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Research & Communications Coordinator for
Greg Clark, Leader of the Alberta Party Opposition