reports
- Aditi Joshi
- Thomas R. Torgerson
- Travis Shaw
Province of Alberta Budget 2023—Charting a New Fiscal Framework
The Province of Alberta released its 2023 budget on February 28, 2023. The Province's finances have improved dramatically from the early onset of the Coronavirus Disease (COVID-19) pandemic, with Alberta anticipating a large surplus in 2022–23 followed by a continuation of small surpluses and gradual decline in debt through 2025–26. Strong energy prices are allowing Alberta to realize record nonrenewable resource royalties, while the government has also worked to bring per capita spending down i...
- Aditi Joshi
- Travis Shaw
Provincial 2022–23 First Quarter Wrap-up—Rapid Fiscal Turnaround but M...
Most provinces have experienced a dramatic fiscal turnaround and appear well-positioned to outperform budget targets for 2022–23; however, these trends are unlikely to be sustained as the economic outlook becomes increasingly clouded. Notwithstanding these headwinds, the majority of DBRS Morningstar's provincial ratings currently have Stable trends as strong fiscal performance has contributed to financial flexibility at the current ratings.
- Aditi Joshi
- Travis Shaw
Alberta, Province of: Rating Report
On September 16, 2022, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Alberta at AA (low), as well as its Short-Term Debt rating at R-1 (middle). Concurrently, DBRS Morningstar changed the trends on all ratings to Positive from Stable.
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Travis Shaw
Province of Alberta Budget 2022—Stemming the Tide of Rising Debt
The Province of Alberta released its 2022 budget on February 24, 2022. The Province's fiscal and debt outlook continue to improve—a trend that began in Q1 last year—helped by a strong recovery in provincial revenues (notably resource royalties) and demonstrated spending restraint. In December 2021, DBRS Morningstar changed the trend on Alberta's Issuer Rating and Long-Term Debt rating to Stable from Negative, and this budget reaffirms that the erosion in Alberta's credit profile has stopped.
- Aditi Joshi
- Travis Shaw
Alberta, Province of: Rating Report
On December 9, 2021, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Alberta (Alberta or the Province) at AA (low), as well as its Short-Term Debt rating at R-1 (middle). DBRS Morningstar changed the trends on both long-term ratings to Stable from Negative, while the trend on the short-term rating remains Stable.
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Travis Shaw
Province of Alberta Budget 2021 - Still Riding Out the Storm
The Province of Alberta (Alberta or the Province; rated AA (low) with a Negative trend by DBRS Morningstar) released its 2021 budget on February 25, 2021. This is the United Conservative Party (UCP) government's third budget, but first since the onset of the Coronavirus Disease (COVID-19) pandemic in March 2020. The budget is focused on the UCP government's efforts to combat the pandemic and lay the groundwork for the economic recovery, and reiterate fiscal anchors, but falls short of articulati...
- Aditi Joshi
- Travis Shaw
Alberta, Province of: Rating Report
On December 14, 2020, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Alberta (Alberta or the Province) at AA (low), as well as its Short-Term Debt rating at R-1 (middle). The trends on both long-term ratings are Negative while the trend on the short-term rating is Stable.
- Aditi Joshi
- Travis Shaw
- Aditi Joshi
- Paul Le Bane
- Travis Shaw
Province of Alberta First Quarter Update Shows Continued Erosion
The Province of Alberta (Alberta or the Province) released its 2020–21 first quarter fiscal update on August 27, 2020. This is the Province's first meaningful fiscal update since the onset of the Coronavirus Disease (COVID-19) pandemic. The fiscal and economic impact of the pandemic, and the precipitous decline in oil prices, have had a more profound impact than was first anticipated by DBRS Morningstar.
- Aditi Joshi
- Paul Le Bane
- Travis Shaw
- Aditi Joshi
- Paul Le Bane
- Paul Le Bane
- Travis Shaw
- Aditi Joshi
- Travis Shaw
Alberta, Province of: Rating Report
DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Long-Term Debt rating of the Province of Alberta (Alberta or the Province) at AA, as well as its Short-Term Debt rating at R-1 (high). DBRS Morningstar also confirmed the Long-Term Obligations rating of Alberta Capital Finance Authority at AA. The trends on all ratings are Negative.
- Aditi Joshi
- Travis Shaw
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