Newsrelease

May 4, 1998
Edmonton, Alberta

Moody’s Gives Alberta’s Debt Rating a "Positive" Grade

The prospects for a future upgrade on Alberta’s Canadian dollar debt are improving, according to Moody’s Investors Service. Moody’s changed its outlook from "stable" to "positive" on the Aa2 rating on Alberta’s domestic currency debt this morning.

While this change strengthens Alberta’s overall ratings position, it is not expected to affect the borrowing rates the province now pays.

"Our chances of seeing an upgrade are improving," said Provincial Treasurer Stockwell Day. "This is the kind of good news that tells us as long as we stick to our fiscal plan, we’re on the right road."

Moody’s Investors Service cites significant provincial efforts to restore fiscal stability and reducing outstanding debt are major factors in their decision. They also said Alberta is well positioned to sustain positive financial performance.

For more information, please contact:

Trish Filevich
Director of Communications
Alberta Treasury
Telephone (780) 427-5364
e-mail: webmaster@treas.gov.ab.ca

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