The ratings on the Province of Alberta reflect: The province's extremely low debt burden compared with both Canadian and international standards. Alberta's net tax-supported debt as a share of GDP declined to 0.5% in fiscal 2005 (year ended March 31) and is expected to decline further to 0.1% of GDP in fiscal 2006. The strong liquidity position afforded by the province's large Heritage Fund assets (HSTF). The province's large fixed-income and equity assets within its Heritage Fund as well as other funds afford the province a net creditor status. The province's continuing strong fiscal performances in the past five years, punctuated by better-than-expected surpluses in the past two fiscal years. The provincial government's conservative and prudent budgetary management, which seeks
