B.C. gets fifth credit downgrade from S&P since 2021

Before its string of rating cuts, B.C. held an AAA rating with S&P for 14 yearsAuthor of the article:You can save this article by registering for free here. Or sign-in if you have an account.British Columbia, the province that once boasted a top AAA credit rating, was downgraded by S&P Global Ratings for the fifth time since 2021 on Thursday.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.“Budgetary imbalances are expected to remain among the highest of all rated non-U.S. local and regional governments beyond the outlook horizon,” S&P said in a statement.The downgrade comes weeks after Canada’s third-most populous province released its annual budget, and on the heels of a separate downgrade from Moody’s Ratings last month. Before its string of rating cuts, B.C. held an AAA rating with S&P for 14 years.B.C.’s fiscal trajectory means “the province’s debt burden is also rising at a fast pace, placing it, on a per operating revenue basis, at 255 per cent,” S&P said. “This is among the highest for Canadian provinces by fiscal 2029.”As for the broader economy, B.C.’s output will be subdued thanks to lower immigration and trade uncertainty, S&P added.Bloomberg.comPostmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.