Alberta cuts funding plan while coronavirus batters oil prices, credit spreads widen

Alberta said it’s reducing its borrowing target for the current fiscal year as credit spreads widen and coronavirus concerns batter oil prices, a key revenue source for the western Canadian province.

In October, Alberta released a budget plan that called for $12.2 billion to be raised in the long-term debt markets for the fiscal year ended March 31 — of which $5.5 billion was remaining as of Tuesday. Ontario, by comparison, completed its $31.6 billion borrowing plan last week, according to Laurentian Bank Securities Inc. data. Meanwhile, Quebec began pre-funding for the following fiscal year in late 2019.

Is there more to Alberta than oil that’s the 4.3 millions question there must be something.

this is what happens when people who understand money are in charge of the money

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‘Sell first, ask questions later’: Stocks suffer biggest plunge in 4 months as coronavirus spreads‘Sell first, ask questions later’: Stocks tumble around the world as coronavirus spreads Do it. Dump you fools. Give others in the market a nice discount. Worse than 6 year olds scared of the dark.
Source: nationalpost - 🏆 10. / 80 Read more »