Despite an improving economic outlook, we expect the Province of Alberta's deficits after capital expenditures to remain among the highest of rated non-U.S. local and regional governments in fiscal 2018-2019, which is contributing to a growing debt burden. As a result, we are affirming our long-term issuer credit and senior unsecured debt ratings on Alberta at 'A+' and affirming our short-term rating at 'A-1+'. We are also affirming our senior unsecured debt rating on Alberta's Crown Corporation, Alberta Capital Finance Authority, at 'A+'. The stable outlook reflects our expectations that Alberta will, on average, continue to post after-capital deficits of about 23% of total adjusted revenues in the next two years. On May 17, 2018, S&P Global Ratings affirmed its
