10/21/2013 03:07 EDT | Updated 01/23/2014 06:58 EST

B.C.'s Credit Rating Steady At AA Says Dominion

VICTORIA - B.C.'s finance minister says fiscal discipline and relatively low and affordable debt is behind the reconfirmation of the province's AA-high credit rating from the Dominion Bond Rating Service.

Mike de Jong says the rating isn't just confirming B.C.'s top rating among the provinces, but affirms the balanced approach the Liberal government is taking.

The service's report says B.C. uses conservative assumptions and modest contingencies in its budgets, helping establish a track record of fiscal management.

The report also says B.C. residents and businesses benefit from one of the most competitive tax systems in Canada and the provincial fiscal recovery plan remains on track.

Moody's and Standard and Poor's credit rating agencies also confirmed B.C.'s AAA credit ratings earlier this year.

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