Credit agency Moody’s has warned that three Canadian provinces could face budgetary issues if the oil price declines further and stays there for longer than a year.
Credit agency Moody’s has warned that three Canadian provinces could face budgetary issues if the oil price declines further and stays there for longer than a year. The report says that Alberta, Saskatchewan and Newfoundland and Labrador all have good credit ratings and could withstand an oil price as low as $60 a barrel for the 2015/16 financial year but longer than that would potentially hit provincial revenues hard enough to cause budget deficits.
