S/P DOWNGRADES CANADA'S PROVINCE OF SASKATCHEWAN
Standard and Poor's Corp said it
downgraded Canada's Province of Saskatchewan. The action
affects the equivalent of 1.68 billion U.S. dlrs of debt.
    S and P lowered the province's long-term debt to AA-minus
from AA.
    The rating agency said the action reflected a substantial
increase in Saskatchewan's budget deficit for fiscal 1987 and
prospects for greater tax-supported debt in the medium term.
    S and P pointed out that the outlook for future revenue
growth is constrained by general weakness in the province's
commodity-based economy because of low prices.
 Reuter
