British Columbia Debt Downgraded Again on ‘Entrenched’ Deficit

British Columbia was downgraded by Moody’s Ratings, which reiterated its negative outlook, the latest in a string of downgrades for Canada’s third-most populous province as its fiscal position worsens amid macroeconomic pressure.

The bond ratings agency downgraded BC’s long-term issuer and senior unsecured debt rating to Aa2 from Aa1, citing “a deterioration in long-term fiscal management relative to our previous assessment” in a Thursday statement.