Clear Full Forecast

Province's Credit Rating Tops

By 250 News

Friday, October 06, 2006 04:12 PM

   

It’s been nearly a quarter of a century, but B.C.’s credit rating is the highest it can go.  Moody’s has boosted the  Province’s rating  to Triple A.

Minister of Agriculture, Pat Bell, says the credit rating agency cited the Province’s "Committment to debt reduction and fiscal prudence" as the two main reasons for the improved ranking.  The only other province to have triple-A ranking is Alberta.

The rate will translate into improved interest rates on outstanding debt.  Each percentage point reduction in an interest rate equals $350 million dollars in savings for the province.  While the new ranking may not  mean a full percentage point reduction, it is expected there will be some savings.

It was 1983  when B.C. las had this top credit rating.


Previous Story - Next Story



Return to Home
NetBistro

Comments

Wow, how things can change. The reality is that we are in much better shape financially. This is significant when each percentage point reduction = $350 million in savings for the province.

Pretty hard to criticize the results of some difficult decisions in the previous number of years.

One other reason to note, is our committment to reduce debt. If the province is actually listening to the majority, we should continue to use the surplus to reduce our debts. This will free up more money to be used in the future to expand services or improve infrastructure. Chester
I am reminded that the N.D.P. never recieved kudos like this while in power. Not being able to run a popcorn stand has it's socialist drawbacks.
The NDP wasn't in power in 1984. That would be the Socreds, you know, the people and party that renamed themselves Liberals to distance themselves from their own policies, including those which lost the triple A rating in the first place.
PS. I do believe the Liberals CAN run a popcorn stand, a peanut stand too - not much else though.
More ammo for Ammo to shoot his self in the foot with! Hee Hee!
Figures don't lie, but liars can figure....
If you can't answer the point, attack the person - the Right way, eh?
I haven't met too many smart people who placed as much faith and devotion as Ammonra does in the NDP.

The party faithful are usually unable to reason reasonably.



I remember the Socreds built the roads, the ferries and the hydro-electric dams in this province. And the time when politics didn't involve schools. Tough act to follow.
The building of the highways, ferries, railroads, hydro-electric dams etc was nothing but a capitalist plot, according to those who never learn.

During that time the wanton destruction of newly planted trees (like in downtown Prince George) would have gotten the perpetrator a jail term, as would have the stealing of cars and breaking into houses and businesses.

Today, it is blamed on various social ills and other nebulous excuses.





Yes, make all sorts of excuses and snide remarks to avoid commentin on the point I made: That it was the right wing Socreds who lost us the triple A rating in the first place, and now the same Socred politicians who took over the in the Liberal party want praise for BC finally getting it back (which, by the way, is due to increases in oil and gas prices and not their failed policies).

And Diplomat, of course you haven't met too many smart people, you support the liberals, don't you?
Take a deep breath, ammo! Your snide remarks about the Liberals aren't very classy! I don't support any particular party, but I know which one I would NEVER support.

It's the one that took B.C. from being number # 1 in Canada to number #10, i.e. dead last, have-not-status, officially.

I noticed that China, for instance, is not lifting itself up from fourth world status to a super power by social democracy, but by capitalist endeavours, kept in check by a ruling junta.

Profit is no longer a dirty word there, but a worthwhile goal for re-investment and future security.

The Socreds built the infrastructure of the whole province while the NDP did not even manage to properly paint the white lines on the deteriorating highways.

Enough said. None are as blind as those who have eyes but refuse to see.

Yet still you ignore my point!
Did anyone think ammo had a point? I didn't.
I did.
Liberals used to be Socreds, we booted them out....remeber? When the Socreds were gone, one person remained. Campbell. The last time only two NDP'er's were left. Do you see a trend here?