Call it a double-credit take-down.

Not one, but two international credit-rating agencies, first Standard and Poor香蕉视频直播檚, then Moody香蕉视频直播檚, downgraded B.C.香蕉视频直播檚 credit worthiness within hours on Tuesday (April 9).

S&P lowered B.C.香蕉视频直播檚 credit rating to AA- from AA, while Moody香蕉视频直播檚 lowered the province香蕉视频直播檚 outlook to negative from stable, while confirming B.C.香蕉视频直播檚 AAA rating.

香蕉视频直播淲e believe that the province香蕉视频直播檚 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,香蕉视频直播� S&P said in its analysis.

Moody香蕉视频直播檚 struck a similar note.

香蕉视频直播淭he negative outlook for British Columbia reflects the risks to the province香蕉视频直播檚 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,香蕉视频直播� 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. United香蕉视频直播檚 Peter Milobar, these assessments are indictments of NDP fiscal management with direct consequences for British Columbians.

香蕉视频直播淲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 that香蕉视频直播檚 really at the core of the problem,香蕉视频直播� 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.

香蕉视频直播淚f health care was actually getting better, if crime and safety on our streets was getting better, I think people would understand the spending,香蕉视频直播� he said. 香蕉视频直播淏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.香蕉视频直播�

Finance Minister Katrine Conroy, however, said B.C. continues to be a 香蕉视频直播渟trong economic leader香蕉视频直播� with one of the lowest GDP-to-debt ratios, adding that Fitch Ratings recently re-affirmed B.C.香蕉视频直播檚 AA+ rating..

It is also the only province with a AAA rating from any of the major agencies, and both S&P and Moody香蕉视频直播檚 point to B.C.香蕉视频直播檚 strong economic fundamentals.

香蕉视频直播淲e knew that there potentially could be a downgrading because of the slower economy, the high interest rates, the slower global economy,香蕉视频直播� she said. 香蕉视频直播淪o we knew that might happen.香蕉视频直播�

Conroy said the NDP inherited what she called a 香蕉视频直播渄eficit in infrastructure香蕉视频直播� in pointing to public demands for more hospitals and schools. 香蕉视频直播淪o those are things that we had to do and it was the right thing to do for the people of the province,香蕉视频直播� she said.

She also dismissed suggestions that the lower credit rating could impact B.C.香蕉视频直播檚 ability to attract investment.

香蕉视频直播淏usinesses continue to invest in B.C. and they like what we are doing when it comes to supporting people and supporting infrastructure,香蕉视频直播� she said.

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

香蕉视频直播淲hile some want to make cuts to the hospitals and schools people rely on, we know that香蕉视频直播檚 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.香蕉视频直播�