Moody’s Investors Service has today downgraded Alberta’s credit to Aa2 from Aa1 which is the province’s long-term debt rating. At the same time, Alberta’s Baseline Credit Assessment (BCA) was lowered to aa3 from aa2.
This credit downgrade is the financial agency’s way of sounding the alarm on Kenney’s UPC government’s inability to put forth a budget that can grow the wildering Alberta economy.
In a press release today, Premier Kenney pointed the finger at the previous Notley government for Alberta’s bleak financial outlook.
“This decision shows how previous governments’ fiscal mismanagement and inability to gain market access for Alberta’s energy continues to affect our province.
Over the past four years, the previous government drove Alberta into a fiscal crisis with policies that weakened growth and business competitiveness. That’s why balancing Alberta’s budget, growing the economy and creating jobs are our top priorities,” said Kenney.
Alberta’s leader of the opposition was quick to reply to Kenney’s press release with a statement of her own rebuffing the embattled Premier’s rhetoric.
“Moody’s has downgraded the province’s credit rating, citing failure to diversify, and overall mismanagement of Alberta’s economy by Premier Jason Kenney and his UCP government,” said Notley.
The former Premier also indicated the Kenney government’s $4.7 billion corporate handouts, cuts to social programs and, its inability to create jobs were contributing factors to Alberta’s credit downgrade.
Premier Kenney lacks the temperament and communication skills to lead Albertans through these uncertain economic times. Jason prefers to spend his time picking fights with the Prime Minister and the media for blowing the whistle on his corrupt leadership campaign.
Jason Kenney will go down in history as one of if not the worst Premiers in the history of Alberta. The people and economy of Alberta are hurting and he is doing nothing to ease the pain. His “Scheer” hubris and Trump complex prevents him from taking responsibility for his actions and blames everyone else for his failures.
Albertans deserve a Premier that does not take pride in starting each day off by picking fights and fanning the flames of separatism. They have the opportunity to vote for real change in the next provincial election or continue to drink the Kenney Kool-Aid and remain a have-not province.