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AAA rating reaffirmed for BC

British Columbia’s AAA credit rating has been reaffirmed by Moody’s Investors Service, and it has also upgraded the province’s outlook to "stable."

The agency highlighted B.C.’s forecast of continued balanced budgets and says stabilizing the province’s debt burden is achievable.

"The stable outlook on the province of British Columbia's ratings reflects our opinion that the province has presented a credible plan of consistent balanced budgets with little risk that the debt burden will exceed current forecasts,” the report reads.

The agency also explains the AAA rating as one which demonstrates B.C.'s high debt affordability, strong fiscal management and fiscal flexibility.

"British Columbia is a leader in controlling spending, attracting investment, and diversifying markets for our goods," said Premier Christy Clark.

"Moody's upgrading B.C.'s credit rating outlook to AAA stable – the highest possible – is further validation of the hard work British Columbians have done to build a growing, diverse economy."

Moody's had applied a negative outlook to B.C.'s rating in December 2012, recognizing a softening economic outlook and weaker commodity prices, and increasing debt burden. But it reaffirmed the AAA credit rating in May 2014.

That designation is the highest-possible rating from Moody's.

Currently, the only three Canadian provinces with a AAA rating are B.C., Alberta and Saskatchewan.



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