BC Retains Triple A Credit Rating
Prince George, B.C. – Good news on the economic front.
Moody’s Investors Service has confirmed B.C.’s Aaa credit rating for the 12th year in a row, along with a stable outlook for the Province.
Finance Minister Mike de Jong says it’s thanks in part to its “track record of prudent fiscal planning and diversified economy leading to economic growth.”
“We have maintained a focus on prudent controlled spending while attracting investment, and diversifying our industries and export partners,” he says. “The external economic situation remains uncertain, which means we must be vigilant and continue to put B.C. on solid economic footing to weather any downturns.
“The upcoming budget will continue on this path to bring opportunities that create jobs and continued economic growth that pays for health, education and social programs for British Columbians.”
Moody’s said B.C. is rated at the higher end of Canadian provinces, which span from a range of Aaa to Aa3
“British Columbia has demonstrated strong fiscal management and performance in recent years, as evidenced by the quick return and maintenance of balanced budgets following the 2009 recession and limited increase of its debt burden during the years it produced deficits.”
The government says since November 2004, the Province has received seven credit rating upgrades and is now the only province rated tripe-A by each of the international rating agencies.