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British Columbia’s credit rating was downgraded due to rising debt and deficits, with a record $13.3 billion shortfall projected for 2026-27.
British Columbia’s credit rating was downgraded to Aa1 from Aa2 by Moody’s, citing large structural deficits, rising debt, and growing interest costs, with a record $13.3 billion deficit projected for 2026-27 and debt expected to reach $234.5 billion by 2028-29.
The province faces a negative outlook, though Moody’s noted its diversified economy and broad tax base as strengths.
Premier David Eby defended the budget, saying the government prioritized health care and essential services over meeting credit targets, while opposition leaders warned of financial instability and called for a fiscal reset.
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La calificación crediticia de British Columbia fue rebajada debido al aumento de la deuda y los déficits, con un déficit récord de $ 13.300 millones proyectado para 2026-27.