Alberta has received a credit rating upgrade from Fitch Ratings, indicating a more positive economic outlook for the province. The upgrade comes as benchmark West Texas Intermediate (WTI) crude prices rise above $78 a barrel and the province's net adjusted debt levels drop by $17 billion to $57.5 billion. The Conference Board of Canada has forecasted that Alberta's economy will grow by 1.7% this year. The credit rating upgrade is expected to lower the cost of capital for the province and reduce debt-servicing costs by $244 million in 2025-26. Alberta is projecting a surplus of $367 million in the current budget year, with resource revenues projected to exceed $17 billion. The province plans to borrow approximately $11.6 billion this year to meet future debt requirements [6c95bfe5].
