This report supplements our research update "Province Of Alberta 'AAA' Ratings Affirmed On Continuing Strong Economy And Financial Management; Outlook Stable," published Dec. 20, 2013. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The ratings on the Province of Alberta reflects Standard&Poor's Ratings Services' opinion of the province's wealthy and increasing economy, "very positive" financial management and liquidity levels, and above-average budgetary flexibility. The ratings also reflect our favorable view of the "predictable and well-balanced" institutional framework for Canadian provinces and Alberta's moderate contingent liabilities. The province has the
