The City of Vancouver says they will continue to borrow money as needed for capital projects, despite a downgrading in their credit rating.
Moody’s lowered Vancouver from Triple “A” Stable status, to Triple “A” Negative, a day after knocking down the provincial rating.
Councillor Raymond Louie calls the city a victim of provincial activity.
“The City of Vancouver has been managing its finances in a very positive and I think careful manner. And it’s been confirmed by other credit agencies we’ve been doing a good job.”
Louie says the city hopes the downgrade doesn’t mean that much, as other credit agencies recently gave Vancouver a stable rating.
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