British Columbia has taken another financial hit in the eyes of global credit rating agencies, now that Moody’s Ratings has officially downgraded the province. The reason? “Sizable and entrenched deficits” and a lack of preparedness to handle economic trouble.
B.C. Premier David Eby’s Budget 2026 played a major role in the province’s new rating as it brought the province “from having one of the lowest debt burdens to having one of the highest among regional peers.”