DBRS Morningstar Discontinues Alberta Capital Finance Authority’s Long-Term Obligations Rating Following Assumption by Province of Alberta

DBRS Limited (DBRS Morningstar) discontinued the Alberta Capital Finance Authority’s (ACFA) Long-Term Obligations rating as all existing obligations were transferred to the Province of Alberta (the Province; rated AA (low) with a Negative trend by DBRS Morningstar) on October 31, 2020. Under the Local Authorities Capital Finance Act, all property, rights, obligations, liabilities, powers, and duties of ACFA become those of the Province. As a result, DBRS Morningstar has assigned the Province’s Long-Term Debt rating to all outstanding debt directly issued by ACFA.

ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

Notes:
The principal methodology is Global Methodology for Government Related Entities (March 10, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link under Related Documents or by contacting us at [email protected].

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

Generally, the conditions that lead to the assignment of a Negative or Positive trend are resolved within a 12-month period. DBRS Morningstar trends and ratings are under regular surveillance.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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