On Sept. 26, 2005, Standard & Poor's Ratings Services affirmed its 'A' long-term issuer credit and senior unsecured debt ratings on the Province of Prince Edward Island (PEI), based on PEI's moderate debt burden, healthy economic performance in 2004, and the significant revenue support of the federal government. At the same time, Standard & Poor's affirmed its 'A-1(Mid)' Canadian national scale and 'A-1' global scale CP ratings on the province. The outlook is stable. The ratings on PEI reflect the following credit strengths: The province's burdens of direct and tax-supported debt fit well within its peer group in the 'A' ratings category. At the end of the 2005 fiscal year (year ended March 31), net tax-supported and direct debt as
