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Standard & Poor’s downgrades Alberta’s credit rating

Alberta’s credit rating has been downgraded. Standard & Poor’s dropped it one notch from AAA to AA+, citing concerns about rising debt and weak budgetary performances.

At the same time, the credit agency says it expects the province’s credit liquidity to be exceptional over the next two years.

Finance minister Joe Ceci called the report disappointing, adding the drop in oil prices is hitting everyone hard.

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