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Showing posts with label Dominion Bond Rating Service; DBRS; Muskrat Falls. Show all posts
Showing posts with label Dominion Bond Rating Service; DBRS; Muskrat Falls. Show all posts

Thursday, 25 October 2012

THE ELUSIVE LOAN GUARANTEE

Prime Minister Stephen Harper pledged a federal loan guarantee, for the Muskrat Falls project or equivalent, during a 2011 campaign stop in St. John’s.

The guarantee still eludes.
The Premier is on tender hooks.  She can’t schedule the debate in the House of Assembly and MHI can’t complete its final report unless the guarantee arrives. Is this why the Premier was recently heard in the media voicing the possibility that the debate could take place without the guarantee?

To those who say that the Feds made a commitment, I’d say what about the “conditions” attached to the offer.
On Sept. 12, 2012 the CBC recorded federal Finance Minister, following a speech in St. John's, saying:  “We have a commitment…to provide the loan guarantee, and we have to work on the details, of course…we will honour the commitment”.

Two weeks later, on September 27, 2012, concerned that the guarantee (and hence, the project) was falling off the rails, Dunderdale raced off to Ottawa to meet with PM Harper but came up empty handed.
Now the end of October is upon us. Still, there is no loan guarantee, notwithstanding the new impetus ostensibly given federal bureaucrats by the Prime Minister.