Canada’s BC Gets Downgraded by S&P & Moodys

Canada’s British Columbia gets its third credit downgrade in three years with a negative outlook.   The S&P drops the hammer on the third largest by population Canadian province and cuts their credit rating to AA- after the provincial government decided to ramp up borrowing, resulting in a record deficit.  Moody’s changed BC’s outlook to negative, citing rising debt levels.  The firm said it may lower its rating again in the next two years if British Colombia “maintains its current fiscal trajectory.”  It seems like few countries these days can get away from these downgrades from Fitch and the others.