On Oct. 9, 2003, Standard & Poor's Ratings Services affirmed its ratings on the Province of Prince Edward Island (PEI), including the 'A' long-term issuer credit rating, based on the province's recent solid economic performance. The outlook is stable. The ratings on PEI reflect an extremely strong economic performance in 2002, a tax-supported debt to GDP ratio that compares well with similarly rated Canadian and international peers, and the strong revenue support provided by the Canadian federal system. The strength of the ratings is counterbalanced by continuing weak budgetary performances in the past two fiscals and the consequent increase in tax-supported debt. The provincial economy rebounded from a poor potato harvest in 2001 with an extremely strong performance in 2002
