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B.C. keeps AA credit rating

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B.C. keeps AA credit rating

Postby Cactusflower » Oct 27th, 2017, 2:12 pm

https://www.castanet.net/news/BC/210161 ... dit-rating

Gee, I guess the sky didn't fall when the NDP became our government-du-jour, as many on these forums predicted.

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Re: B.C. keeps AA credit rating

Postby GordonH » Oct 27th, 2017, 2:17 pm

Back in January according Moody's BC had triple A rating, now it's only a double A.
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Re: B.C. keeps AA credit rating

Postby kelownman » Oct 27th, 2017, 2:20 pm

The Finance Ministry says British Columbia remains the only province rated triple-A with all three international credit rating agencies, Moody's, Standard & Poor's, and Fitch.

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Re: B.C. keeps AA credit rating

Postby The Green Barbarian » Oct 27th, 2017, 2:54 pm

A couple of things jump out at me from that article:

The Ministry of Finance says in a news release that the rating recognizes B.C.'s growing economy, balanced fiscal policy and affordable debt.

It calls the double-A high rating "a strong affirmation of the province's direction and fiscal position."


So we know this was the case with the BC Liberals - growing economy, balanced fiscal policy etc. But is this still the case with the Green and the NDP? Or is this changing? I have been told over and over again by the NDP sycophants here that it is "too early to judge" as the NDP has "just gotten started", after usurping power via a dirty back room deal. So if that is the case, can the NDP truly take any credit for this development? You can't suck and blow at the same time. Oh wait, this is the NDP, they certainly know how to suck.

"The AA high rating recognizes that choices to invest in British Columbians will help chart a path to continued economic stability," James says in the release.

She says the investments being made by the New Democrat government lay the foundation for a better B.C.


Is this a hint that Site C is going to go ahead? I thought the dumb dumbs within the NDP wanted to kill Site C? Are we being given a signal that maybe, just maybe, the NDP aren't quite as dense and committed to their policy of NOOOOOO!!! as we thought? I guess we will see.
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Re: B.C. keeps AA credit rating

Postby TimmyE » Oct 27th, 2017, 3:42 pm

I am confused. Do we have a double A or triple A rating?
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Re: B.C. keeps AA credit rating

Postby Veovis » Oct 27th, 2017, 3:42 pm

Lol they use the liberal budget yet pat themselves on the back for it. Wow.

Try that at the casino and every winning hand someone else has you try to take the pot, see how far you get.

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Re: B.C. keeps AA credit rating

Postby Cactusflower » Oct 27th, 2017, 5:46 pm

GordonH wrote:Back in January according Moody's BC had triple A rating, now it's only a double A.


So now the truth emerges. Clark and deJong wouldn't let the truth get in the way of a good lie.
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Re: B.C. keeps AA credit rating

Postby alanjh595 » Oct 27th, 2017, 6:23 pm

Cactusflower wrote:
GordonH wrote:Back in January according Moody's BC had triple A rating, now it's only a double A.


So now the truth emerges. Clark and deJong wouldn't let the truth get in the way of a good lie.


OR the other way to look at it is that:Since the NDP, our rating has dropped.

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Re: B.C. keeps AA credit rating

Postby Urban Cowboy » Oct 27th, 2017, 7:03 pm

Cactusflower wrote:
GordonH wrote:Back in January according Moody's BC had triple A rating, now it's only a double A.


So now the truth emerges. Clark and deJong wouldn't let the truth get in the way of a good lie.





alanjh595 wrote:
OR the other way to look at it is that:Since the NDP, our rating has dropped.


Something entirely reasonable to think, given the bridge tolls boondoggle.
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Re: B.C. keeps AA credit rating

Postby Verum » Oct 27th, 2017, 7:10 pm

alanjh595 wrote:
GordonH wrote:Back in January according Moody's BC had triple A rating, now it's only a double A.
Cactusflower wrote:So now the truth emerges. Clark and deJong wouldn't let the truth get in the way of a good lie.

OR the other way to look at it is that:Since the NDP, our rating has dropped.

There might be many reasons to complain about the NDP, but this isn't one. Our rating has stayed the same among the major credit rating companies (some use different standards). Since credit rating is a forward looking metric, it is a good measure that those financial institutions do not consider the change in government likely to change BC's credit rating, at least not based on their current performance.
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Re: B.C. keeps AA credit rating

Postby Dizzy1 » Oct 28th, 2017, 2:35 am

Cactusflower wrote:
Gee, I guess the sky didn't fall when the NDP became our government-du-jour, as many on these forums predicted.

So, basically, the NDP inherited a great credit rating from the previous Government? You guys must be patting yourselves on the back for a job so well done :up:
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Re: B.C. keeps AA credit rating

Postby Urban Cowboy » Oct 28th, 2017, 4:32 am

Dizzy1 wrote:
Cactusflower wrote:
Gee, I guess the sky didn't fall when the NDP became our government-du-jour, as many on these forums predicted.

So, basically, the NDP inherited a great credit rating from the previous Government? You guys must be patting yourselves on the back for a job so well done :up:


Naturally and when they screw up it will be the Liberals fault.
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Re: B.C. keeps AA credit rating

Postby Dizzy1 » Oct 28th, 2017, 7:29 am

Ineteresting to see what the rating was during the previous Liberal Government and the NDP Government before them ...

http://www.cbc.ca/amp/1.1400605

:up:
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Re: B.C. keeps AA credit rating

Postby alanjh595 » Oct 28th, 2017, 7:51 am

1989-1997 AA NDP
2005 AA+ Liberals
2006 AAA Liberals

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Re: B.C. keeps AA credit rating

Postby Verum » Oct 28th, 2017, 10:22 am

Dizzy1 wrote:Ineteresting to see what the rating was during the previous Liberal Government and the NDP Government before them ...

http://www.cbc.ca/amp/1.1400605

:up:

That article is quite interesting and definitely one that partisans on both sides should read:
CBC wrote:In the first half of the 1990s, B.C.'s NDP government boasted the highest credit rating in Canada at a time when no province rated above AA.
But when the NDP failed to deliver a promised surplus in 1996 — amidst an Asian market collapse and the leaky condo crisis — things started to change.
...
Helmut Pastrick, chief economist at Central 1 Credit Union, says the downgrades were likely as a result of factors out of the government's control.

"Policies do matter, but I think for the most part it tends to be the state of the economy, typically external factors count more, through the commodity and trade channels, and of course the domestic economy soon follows once there is a more of an external macro economic downturn then the domestic economy follows as well."

It seems that economists think that the downgrades from NDP's past tenure were due to "factors out of the government's control", so trying to make a political football out of this just seems partisan.
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