Just days after releasing his budget, Finance Minister Joe Ceci faces the reality of the province having its credit rating downgraded once again.
The post budget tour stopped in Calgary on Monday morning as the Finance Minister took questions from the members of the Chamber of Commerce. But the shadow of yet another credit downgrade was cast over the room.
Ceci says he wasn’t exactly blindsided it, but his optimistic approach remains, as he believes he can steer the province out of it
Ceci told media Monday, “That was a disappointment to me, I will be fighting hard to get it back. I’m controlling the cost of spending, along with all the minister is cabinet.”
On Friday, DBRS Ltd downgraded the Alberta credit rating from AAA to High AA.
Ceci is heading to Toronto next week to meet with bond rating agencies.