On Oct. 5, 2004, Standard&Poor's Ratings Services affirmed its 'AAA' long-term issuer credit and senior unsecured debt ratings on the Province of Alberta. At the same time, Standard&Poor's affirmed its 'A-1+' short-term issuer credit and global scale CP ratings and its 'A-1(High)' Canadian national scale CP rating on Alberta. Standard&Poor's also affirmed its 'AAA' rating on the guaranteed debt outstanding of the Alberta Capital Finance Authority. The outlook is stable. The ratings on Alberta reflect: The province's extremely low debt burden compared by both Canadian and international standards and additional declines in net tax-supported debt as a share of GDP in fiscal 2004 (year ended March 31). The provincial government's conservative and prudent budget
