Newsrelease

November 20, 1998
Edmonton, Alberta

"Our commitment to strong fiscal management has paid off. This reaffirmation of our credit rating shows that the foundation we built will allow us to sustain prosperity over the long term."

Alberta leads the pack with an AA+ credit rating

Alberta continues to have the top credit rating of any Canadian province.

Double-A-plus is the mark that Standard and Poor’s, a major debt-rating agency, gave Alberta recently, reaffirming the province’s place at the head of the class.

"This reaffirmation of our credit rating is a clear indication that as a government we are getting the job done the way it should be done," said Provincial Treasurer Stockwell Day.

When announcing Alberta’s second straight AA+ rating, Standard and Poor’s noted that the rating reflects the expectation of continued debt reduction and strong budget performance through the medium term, safeguarded by conservative spending management in periods of lower-than-anticipated energy revenues.

The agency also cited "another extraordinary fiscal performance in 1998" as a key reason for the rating. "Continued strong revenue growth has combined with the successful spending reforms of the past several years to create a very robust fiscal climate in Alberta."

The AA+ rating ensures that Alberta will continue to have the lowest cost of borrowing.

For further information, please contact:

Shannon Taylor
A/Director of Communications
Alberta Treasury
(780) 427-5364

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