This report supplements our research update "Province of Alberta Downgraded To 'AA' From 'AA+' On Very Weak Budgetary Performance And High Debt; Outlook Negative," published on May 19, 2016. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The ratings on the Province of Alberta reflect S&P Global Ratings' view of the projected deterioration in budgetary performances resulting from the fall in oil prices and notable expected increase in debt and the negative outlook reflects continuing uncertainty about the province's willingness to take additional fiscal measures to improve its structural budget shortfalls
