BC keeps AAA rating

[LordEd]

removed.

[alanjh595]

Ndp equals triple a rating

Bclibs equal bankrupt rating

Credit ratings are based upon PAST performance, NOT on FUTURE possibilities.

[Verum]

Credit ratings are based upon PAST performance, NOT on FUTURE possibilities.

That is only true for individuals and not countries, provinces or organisations. In their case there is a lot more information available and as such past performance is only part of the equation. Since the purpose of credit ratings is to attempt to predict the future, relying on past data alone is a very bad idea.

Again, I iterate that credit ratings are largely beyond the influence of our provincial government, despite what some people would like to have you believe. Yes, if either behaved in a Mugabesque fashion, that might have changed things, but in truth both parties are sufficiently similar in governance style that they are unlikely to have a huge negative or positive impact on our credit rating.

[hobbyguy]

https://www.investopedia.com/terms/c/creditrating.asp

"There are a few factors credit agencies take into consideration when assigning a credit rating to an organization. First, the agency considers the entity's past history of borrowing and paying off debts. Any missed payments or defaults on loans negatively impact the rating. The agency also looks at the entity's future economic potential. If the economic future looks bright, the credit rating tends to be higher; if the borrower does not have a positive economic outlook, the credit rating will fall."

So the NDP party itself would be like a D- rating? After all, they are down to selling assets to finance their campaigns. Oh wait! The NDP are fixing that - the NDP are going to thieve taxpayer money to pay for their incompetence. That's $$$ added to (not paid off) the provincial debt - and as usual with the NDP for zero benefit to the province. Thieving louts! The NDP should change their name to the TPC - Thieving Petty Criminals party. Who the heck gave the NDP liars the mandate to

Given the past history of the NDP constantly adding to the provincial debt while NOT adding corresponding assets, will BC keep its credit rating for long? The NDP already added $billions to taxpayer supported debt through their reckless (Weaver's words) bridge toll cancellation - turning a self supporting revenue producing asset into dead debt. If the NDP dummies cancel site C, they will add $4 billion, plus probably another $billion (to make their union buddies happy) to the provincial debt with nothing to offset it. They may leave it as BC Hydro debt to diaper their sorry butts, but all thinking BC residents will know otherwise.

[Urban Cowboy]

Credit ratings are based upon PAST performance, NOT on FUTURE possibilities.

That is only true for individuals and not countries, provinces or organisations. In their case there is a lot more information available and as such past performance is only part of the equation. Since the purpose of credit ratings is to attempt to predict the future, relying on past data alone is a very bad idea.

Again, I iterate that credit ratings are largely beyond the influence of our provincial government, despite what some people would like to have you believe. Yes, if either behaved in a Mugabesque fashion, that might have changed things, but in truth both parties are sufficiently similar in governance style that they are unlikely to have a huge negative or positive impact on our credit rating.

Yeah just keep telling yourself that a responsible credit agency won't be looking at past history and performance when trying to predict the future.

You think they won't care that the NDP kept producing deficit budgets, not to mention hasn't even produced one of their own but rather kept the Liberal one in place. Never mind the fact that in their short period since taking over, they've conducted themselves exactly the same as in the 90's.

Yeah none of that will have a bearing at all.

[Verum]

https://www.investopedia.com/terms/c/creditrating.asp

"There are a few factors credit agencies take into consideration when assigning a credit rating to an organization. First, the agency considers the entity's past history of borrowing and paying off debts. Any missed payments or defaults on loans negatively impact the rating. The agency also looks at the entity's future economic potential. If the economic future looks bright, the credit rating tends to be higher; if the borrower does not have a positive economic outlook, the credit rating will fall."
...

I said that past performance was only part of the equation, and what the future looks like for an organisation is important, all things that that quote agrees with me on. Additionally, you used an explanation which was more targeted to individuals, where it is largely impractical for credit agencies to go by anything other than past performance. With large organisations, the credit rating agencies have far more access to useful information and you can bet your bottom dollar that they use everything they deem useful. I'm sure you realise that beyond usefulness for predicting the future, the past is completely irrelevant to these agencies.

Yeah just keep telling yourself that a responsible credit agency won't be looking at past history and performance when trying to predict the future.

You think they won't care that the NDP kept producing deficit budgets, not to mention hasn't even produced one of their own but rather kept the Liberal one in place. Never mind the fact that in their short period since taking over, they've conducted themselves exactly the same as in the 90's.

Yeah none of that will have a bearing at all.

I never said that they ignore past history or performance, just they use far more than just that.

Why is it that some people can't, or intentionally won't, get it into their heads that credit agencies are only interested in what is going to happen?

[madmudder]

Usually the biggest thieves of all worry the most about being ripped off.