Call it a double-credit take-down.

Not one, but two international credit-rating agencies, first Standard and Poorsa国际传媒檚, then Moodysa国际传媒檚, downgraded B.C.sa国际传媒檚 credit worthiness within hours on Tuesday (April 9).

S&P lowered B.C.sa国际传媒檚 credit rating to AA- from AA, while Moodysa国际传媒檚 lowered the provincesa国际传媒檚 outlook to negative from stable, while confirming B.C.sa国际传媒檚 AAA rating.

sa国际传媒淲e believe that the provincesa国际传媒檚 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,sa国际传媒� S&P said in its analysis.

Moodysa国际传媒檚 struck a similar note.

sa国际传媒淭he negative outlook for British Columbia reflects the risks to the provincesa国际传媒檚 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,sa国际传媒� 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. Unitedsa国际传媒檚 Peter Milobar, these assessments are indictments of NDP fiscal management with direct consequences for British Columbians.

sa国际传媒淲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 thatsa国际传媒檚 really at the core of the problem,sa国际传媒� 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.

sa国际传媒淚f health care was actually getting better, if crime and safety on our streets was getting better, I think people would understand the spending,sa国际传媒� he said. sa国际传媒淏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.sa国际传媒�

Finance Minister Katrine Conroy, however, said B.C. continues to be a sa国际传媒渟trong economic leadersa国际传媒� with one of the lowest GDP-to-debt ratios, adding that Fitch Ratings recently re-affirmed B.C.sa国际传媒檚 AA+ rating..

It is also the only province with a AAA rating from any of the major agencies, and both S&P and Moodysa国际传媒檚 point to B.C.sa国际传媒檚 strong economic fundamentals.

sa国际传媒淲e knew that there potentially could be a downgrading because of the slower economy, the high interest rates, the slower global economy,sa国际传媒� she said. sa国际传媒淪o we knew that might happen.sa国际传媒�

Conroy said the NDP inherited what she called a sa国际传媒渄eficit in infrastructuresa国际传媒� in pointing to public demands for more hospitals and schools. sa国际传媒淪o those are things that we had to do and it was the right thing to do for the people of the province,sa国际传媒� she said.

She also dismissed suggestions that the lower credit rating could impact B.C.sa国际传媒檚 ability to attract investment.

sa国际传媒淏usinesses continue to invest in B.C. and they like what we are doing when it comes to supporting people and supporting infrastructure,sa国际传媒� she said.

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

sa国际传媒淲hile some want to make cuts to the hospitals and schools people rely on, we know thatsa国际传媒檚 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.sa国际传媒�