TORONTO (Standard&Poor's) Dec. 19, 2007--Standard&Poor's Ratings Services today said it revised its outlook on the Province of Prince Edward Island (PEI) to positive from stable. At the same time, Standard&Poor's affirmed its ratings, including its 'A' long-term issuer credit rating, on the province. "We base the outlook revision on the province's strengthening financial results and solid economic performances," said Standard&Poor's credit analyst Stephen Ogilvie. Financial results have been strengthening since 2003. Preliminary results for fiscal 2007 indicate a smaller operating surplus of 1.3% of operating revenues and an after-capital spending deficit of 1.5% of total revenues. However, we expect that the province will outperform its fiscal 2007 estimates, especially for revenues, and
