DBRS Discontinues Short-Term Rating of Alberta Capital Finance Authority

DBRS has today discontinued the short-term rating of Alberta Capital Finance Authority (ACFA) as the short-term program is no longer in use and there are no short-term liabilities outstanding.

Originally established in 1956 as the Alberta Municipal Financing Corporation, the Corporation was renamed the Alberta Capital Finance Authority in 2003 and acts as an agent of the Crown to provide financing for capital projects to municipalities, school boards and other local entities. Debt obligations of ACFA are unconditionally guaranteed by the Province of Alberta. Since April 1, 2011, ACFA no longer issues debt in the capital markets and now borrows directly from the Province of Alberta.

Note:
The applicable methodologies are Rating Canadian Provincial Governments and Rating Agents of the Crown, which can be found on our website under Methodologies.