The ratings on the Province of Alberta reflect: The province's very low debt burden and expectations of further declines in net tax-supported debt as a share of GDP by 2005. The government's conservative and prudent budget management, which seeks to preserve Alberta's strong budgetary performance, even as revenues remain volatile due to the province's heavy reliance on the energy sector. The economy's strong performance, high-income levels, and continuing strong prospects for growth in the near term, bolstered by solid performance of the energy sector. These strengths are partially offset by: Long-term economic risks inherent with implementation of the U.S. Farm Bill earlier this year and the possible adoption of the Kyoto accord by the federal government. The stable outlook reflects
