Prudent fiscal management and debt reduction is being cited by Moody's Investor's Services for reconfirming B.C.'s triple-A credit rating.
In confirming the rating, the credit rating agency says B.C.'s "strong fiscal management and performance in recent years enabled British Columbia to reduce its debt burden to a level that is below the median of Canadian provinces, supporting an even higher degree of fiscal flexibility than most other provinces."
Thanks to low interest rates and a diversified economy, B.C.'s debt remains manageable, a B.C. government press release states.
According to a recent quarterly report, the B.C. government reports it is on track to balance the 2013-14 budget.
"This is not just confirmation of B.C.'s top rating among the provinces, but affirmation of the balanced approach we have taken over the past years," B.C. Finance minister Mike de Jong said.
"Moody's recognizes that aggressively paying down debt during years of budget surpluses has kept our debt burden low. Together, with our track record of meeting budget targets, this was recognized as a factor in confirming the highest available rating."
