Three major International Rating Agencies have improved their outlook on Alberta since the beginning of 2023
On September 14, 2023, the international credit rating agency DBRS Limited (DBRS Morningstar) upgraded the Issuer Rating and Long-Term Debt rating of the Province of Alberta to AA from AA (low) and upgraded the Short-Term Debt rating to R-1 (high) from R-1 (middle). Concurrently, DBRS Morningstar changed the trends on all ratings to Stable from Positive. This constitutes a sure sign that our economy and province are moving in the right direction.
This positive news comes on the heels of Alberta’s first quarter fiscal update, which showed that our province is on track for a projected surplus of $2.4 billion by the end of 2023-24 – $94 million higher than what was forecast in Budget 2023. The consensus among major Canadian financial institutions is that Alberta will continue to lead the nation in economic growth this year as our government continues to focus on growing and diversifying the economy and investing in health care and education.
DBRS Morningstar isn’t the only credit rating agency taking notice of Alberta’s economic success. Since the beginning of 2023, Moody’s Investors Service has upgraded its credit rating for Alberta, and Fitch Ratings Inc. has also upgraded its outlook for Alberta’s credit rating on July 27, 2023.
What does this all mean for everyday families like yours and mine here in Lac Ste. Anne-Parkland region?
A higher credit rating means Alberta’s government pays lower interest rates and debt-servicing costs. That means more money is available to invest in things Albertans care about, like roads, schools, and hospitals. A higher credit rating also signals that Alberta is a stable place to invest.
We’re building a province that is stronger and more resilient than ever. We are cutting taxes and red tape, keeping life affordable, attracting investment, creating thousands of high-paying jobs, and overseeing credit rating increases that will make life better for everyday people.
Alberta has momentum in every corner of the province and in all sectors of the economy. Optimism is growing for the future, and we want to ensure Albertans are going back to work and participating in this renewed Alberta Advantage.
Alberta is on track for a projected surplus of $2.4 billion by the end of 2023-24 – $94 million higher than what was forecast in Budget 2023
Albertans’ approval of Danielle Smith
This past week, we also learned that Alberta Premier Danielle Smith has a strong approval rating from Albertans and more people who “strongly approve” of her leadership than any other premier in the country.
Premier Smith is listening and responding to the needs of Albertans. She has built a strong team of diverse Albertans determined to improve life for everyday families and businesses. While we have more work to do, Alberta is back, leading the nation in economic prosperity, freedom, and opportunity.
Sincerely,
Shane Getson
If you agree with this article, share your opinions with us. Call me today!
PLEASE NOTE:
If you have any comments to this blog post or others, please write to me at LacSteAnne.Parkland@assembly.ab.ca and I will respond to you personally as soon as possible.
For any further question on the constituency of Lac Ste Anne Parkland feel free to connect with your MLA Shane Getson by calling the phone number : 780.967.0760 (click2call), by email LacSteAnne.Parkland@assembly.ab.ca or by mailing us to:
Constituency Office
#18, 4708 Lac Ste. Anne Trail North
P.O. Box 248 “Onoway PO”
Onoway, AB
Canada T0E 1V0
MLA Shane Getson (UCP)
Shane Getson was elected as Member of the Legislative Assembly for Lac Ste. Anne-Parkland on April 16, 2019.
Engagement
I currently serve as Deputy Chair on the Standing Committee on the Alberta Heritage Savings Trust Fund and as a Member of the Standing Committees on Resource Stewardship.
Check often my Engagement page to discover my Focus Projects for 2021, among which I want to introduce you to the importance of Utility Corridors. I have the firm belief that the usage of these corridors will contribute immensely to Alberta's future so, for more details please contact me at your convenience.