- British Columbia issues long-term bonds in the name of the Province, which is rated triple-A by Moody's Investor Services, Standard and Poor's and Fitch Ratings; and AA (high) by Dominion Bond Rating Service.
- The bond proceeds are then used by the Province to finance the requirements of the public sector, including the government, Crown agencies, schools, health care and post-secondary education institutions.
- As at Sept. 30, 2016, British Columbia has approximately $64 billion of gross debt outstanding, and annual gross borrowing requirements ranging between $5.8 billion and $6.7 billion over the next two fiscal years.
- The Province sources its financing primarily from the domestic capital markets, but is also active in the international capital markets.
- Since 1990, B.C. has borrowed in US dollars, Euro, Australian dollars, Chinese renminbi, Hong Kong dollars, Swiss francs, British pound, Japanese yen, Indian rupee and the former French francs and Deutsche marks.
- As at Sept. 30, 2016, about 20% of the Province’s gross debt outstanding is denominated in foreign currencies, almost all of which is fully hedged back into Canadian dollars, including principal and interest.
- Borrowing in offshore capital markets diversifies the Province's investor base and offers deeper and new sources of liquidity for financing public sector requirements.
Government Communications and Public Engagement
Ministry of Finance