B.C. finance minister says AAA credit rating confirms balanced budget ahead

VICTORIA – British Columbia’s finance minister is trumpeting the province’s AAA credit rating by Moody’s investors.

Mike de Jong says it’s a sign of the government’s reputation for prudent fiscal management.

He notes a report by Moody’s Investors says the rating has enabled the province to reduce its debt burden to a level that is below the median of Canadian provinces.

De Jong says the Moody’s assessment concludes that B.C.’s debt remains manageable during the current low interest-rate environment.

He says the rating comes after the province paid down debt during years of budget surpluses.

De Jong says the AAA rating follows the first quarterly report issued on Sept. 10, and confirms that B.C. is headed for a balanced budget.