TORONTO –- Standard&Poor's CreditWire 10/23/97 – Standard&Poor's today raised its issuer credit rating and senior unsecured debt ratings on the Province of Alberta to double-`A'-plus from double-`A'. The rating outlook is now stable. Standard&Poor's also affirms its `A-1'- plus rating on Alberta's U.S. 3(A)3 commercial paper. The upgrade reflects: -- The rapid debt reduction of 1997 and 1996, and the expectation of continued debt reduction, albeit at a more modest pace, as required by legislation; -- Strong budget performance through the medium term, safeguarded by conservative spending management, and aided in 1998 by continuing stronger-than-anticipated energy revenues; and, The economy's high and rising income levels, as well as its concentration in the often volatile
