Provincial Debt Information

Standard and Poor's Report (October 6, 2011) - Excerpt:

"Overall, the province's current economic prospects seem brighter than those of European peers (and about the same as Australian peers), its free cash and liquid assets far stronger than all peers, and debt amongst the lowest. Alberta's strong financial risk profile is the result of years of buoyant natural resource revenues and very strong operating and after-capital surpluses, which the province used to lower debt and accumulate assets."

Dominion Bond Rating Service (DBRS) Report (October 5, 2011) - Excerpt:

"The Province’s strong credit profile continues to be supported by a low debt burden, ample liquidity and an economy driven by robust investment in the energy sector. While heightened uncertainty in the global economy and the recent correction in energy prices add some uncertainty to the fiscal outlook, DBRS nevertheless believes that Alberta remains well positioned to withstand a period of soft economic growth and weaker energy prices."

Moody's Investors Service Report (July 25, 2011) - Excerpt:

"The Aaa debt rating assigned to the Province of Alberta reflects the province’s minimal debt burden and corresponding high shock-absorption capacity. The virtual elimination of the province’s net direct and indirect debt achieved over the past decade provides balance sheet flexibility to absorb economic shocks. Alberta’s strong net asset position, while expected to deteriorate modestly over the medium term, is another foundation of the province’s Aaa rating. We also assign a short-term issuer rating of P-1 to the Province of Alberta."

British Columbia