DBRS has confirmed its AA credit rating for British Columbia, citing the province’s fiscal discipline and affordable debt burden.

The rating agency indicates that the province uses conservative assumptions and modest contingencies in its budgets, “which has helped to establish a track record of prudent fiscal management.”

It also notes that its fiscal performance has been very close to budgetary projections, and ranks as second best in the country. Looking ahead, a small surplus is expected for fiscal 2013-2014. “The debt burden remains consistent with previous expectations and very manageable for the credit profile,” it notes.

Provincial finance minister, Michael de Jong, notes that B.C. also continues to maintain the highest credit rating possible with Moody’s and Standard and Poor’s.

“This is not just confirmation of B.C.’s top rating among the provinces, but affirmation of the balanced approach we have taken over the past years,” De Jong said. “DBRS recognizes our fiscal discipline and relatively low and affordable debt. They also recognize that our fiscal recovery plan is on track and that our tax system is among the most competitive in Canada.”