...The ratings on the Province of Alberta reflect S&P Global Ratings' view of the projected deterioration in budgetary performances resulting from the fall in oil prices and notable expected increase in debt and the negative outlook reflects continuing uncertainty about the province's willingness to take additional fiscal measures to improve its structural budget shortfalls within the next two years. Our view of Alberta's budgetary performances as very weak stems chiefly from the deterioration expected in results for fiscal years 2017 to 2019 (ended March 31). We expect continued low oil prices to negatively affect the province's finances in the near term. Under our base-case forecast for fiscal years 2015-2019, we expect that Alberta will record an average operating deficit of about 6% of adjusted operating revenues and a large average after-capital deficit of about 22% of total revenues. In our opinion, Alberta's financial results are more volatile than those of other Canadian provinces...
