Province of Alberta
SECTOR | Subsovereign |
RATINGS | A+/Aa2/AA- |
RATING OUTLOOK | Negative/Under Review/Negative |
FUNDING VOLUME FY21/FY22 (to 31 Mar fiscal year-end) | C$28BN/C$24BN |
RISK WEIGHT, LCR LEVEL, SOLVENCY II | 0%, Level 1, 0% |
REPO ELIGIBILITY |
ECB, US Fed, SNB |
About the Province of Alberta
The Province of Alberta (Alberta) is the most western of the three Canadian Prairie provinces. It is the fourth-largest province by population and enjoys the highest GDP per capita in the country. It also currently boasts the lowest debt-to-GDP ratio among the provinces.
However, depressed oil prices and the impact of COVID-19 have been detrimental to the economy and, in turn, provincial government revenues. The Alberta government released its annual fiscal results for 2020/21 showing a deficit of C$17 billion and expects deficits to persist to 2024. Growth expectations for 2021 have been upgraded and annual GDP is forecast to expand by 4.8%, but the recovery is expected to be prolonged and uneven. Alberta’s forecast borrowing requirement for 2021 is C$24 billion.
Capital markets branch
The capital markets branch of the Treasury Board and Finance Ministry is responsible for the following:
• Borrowing and risk management for the province and its provincial corporations.
• Providing investment-policy advice for government investment pools and trust funds.
• Managing the provincial debt portfolio including executing the province’s financing plan.
• Investor-relations activities.
• Relations with credit-rating agencies.
• Providing centralised banking, settlement and cash-management services.
Sustainable funding strategy
As at June 2021, the Province of Alberta has not developed a green, social and sustainability bond issuance strategy.
FOR FURTHER INFORMATION PLEASE CONTACT:
Stephen Thompson
Executive Director
+1 780 644 5011
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.finance.alberta.ca/business/borrowing/index.html
SSA Yearbook 2021
The annual guide to the world's most significant supranational, sovereign and agency sector issuers.