Call it a double-credit take-down.

Not one, but two international credit-rating agencies, first Standard and Poor91裸聊视频檚, then Moody91裸聊视频檚, downgraded B.C.91裸聊视频檚 credit worthiness within hours on Tuesday (April 9).

S&P lowered B.C.91裸聊视频檚 credit rating to AA- from AA, while Moody91裸聊视频檚 lowered the province91裸聊视频檚 outlook to negative from stable, while confirming B.C.91裸聊视频檚 AAA rating.

91裸聊视频淲e believe that the province91裸聊视频檚 commitment to fiscal discipline and stability has wavered in recent years as B.C. has materially increased its spending for both operations and capital investment to unparalleled levels, while economic growth is slowing,91裸聊视频� S&P said in its analysis.

Moody91裸聊视频檚 struck a similar note.

91裸聊视频淭he negative outlook for British Columbia reflects the risks to the province91裸聊视频檚 ability to slow a significant projected increase in debt amid rising spending commitments and its lack of commitment to return to fiscal balance within a specified time period,91裸聊视频� it reads.

In other words, neither agency sees B.C. curbing spending any time soon, with each hinting at future rating downgrades.

These downgrades come after the B.C. NDP tabled a budget with a record-setting deficit of almost $8 billion.

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For B.C. United91裸聊视频檚 Peter Milobar, these assessments are indictments of NDP fiscal management with direct consequences for British Columbians.

91裸聊视频淲hat it means is that we are going to be all asked to pay more tax dollars for the same, if not less services by the British Columbia government and that91裸聊视频檚 really at the core of the problem,91裸聊视频� he said.

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Milobar said these changes will directly hurt residents already chafing under high personal-debt levels. More and more of their tax dollars will go toward servicing debt, leaving less money for services, he added.

91裸聊视频淚f health care was actually getting better, if crime and safety on our streets was getting better, I think people would understand the spending,91裸聊视频� he said. 91裸聊视频淏ut when all of those areas are actually getting worse, it really does make you wonder what exactly it would take for this government to get things under control and not see our credit rating downgraded.91裸聊视频�

Finance Minister Katrine Conroy, however, said B.C. continues to be a 91裸聊视频渟trong economic leader91裸聊视频� with one of the lowest GDP-to-debt ratios, adding that Fitch Ratings recently re-affirmed B.C.91裸聊视频檚 AA+ rating..

It is also the only province with a AAA rating from any of the major agencies, and both S&P and Moody91裸聊视频檚 point to B.C.91裸聊视频檚 strong economic fundamentals.

91裸聊视频淲e knew that there potentially could be a downgrading because of the slower economy, the high interest rates, the slower global economy,91裸聊视频� she said. 91裸聊视频淪o we knew that might happen.91裸聊视频�

Conroy said the NDP inherited what she called a 91裸聊视频渄eficit in infrastructure91裸聊视频� in pointing to public demands for more hospitals and schools. 91裸聊视频淪o those are things that we had to do and it was the right thing to do for the people of the province,91裸聊视频� she said.

She also dismissed suggestions that the lower credit rating could impact B.C.91裸聊视频檚 ability to attract investment.

91裸聊视频淏usinesses continue to invest in B.C. and they like what we are doing when it comes to supporting people and supporting infrastructure,91裸聊视频� she said.

Conroy said British Columbians expect government to support them during tough times.

91裸聊视频淲hile some want to make cuts to the hospitals and schools people rely on, we know that91裸聊视频檚 the wrong decision and would make life harder for people when they need support the most. By providing key services and infrastructure we are building a stronger B.C.91裸聊视频�