Department of Treasury & Finance
State Government of Victoria
Victoria. The Place To Be.
Department of Treasury & Finance
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Victoria's credit rating

The State of Victoria is rated by two international rating agencies - Standard & Poor's and Moody's Investors Service Limited. Both rating agencies conduct an annual review of the State's economic structure and prospects; financial performance and outlook; balance sheet position; liquidity and debt management strategy; and the government's fiscal strategy.

Moody's Investor Services

On 15 April 2008, Moody's Investor Services re-affirmed Victoria's AAA credit rating. Moody’s credit opinion (see below) on the state of Victoria’s finances found a low debt burden, strong financial performance and prudent fiscal management underpinned the State’s AAA rating.

PDF document Credit Opinion - April 2008 (103 kb PDF)
PDF document Credit Opinion - January 2007 (49 kb PDF)
PDF document Rating Action - May 2005 (40 kb PDF)
PDF document Credit Opinion - December 2005 Update (49 kb PDF)
PDF document Analysis Report - December 2004 (460 kb PDF)

Standard and Poor's

On 8 December 2008, Standard and Poor's affirmed Victoria's domestic currency debt and foreign currency debt ratings of "AAA/A-1+" in its Ratings Direct report. The rating outlook remains stable. On 6 May 2008, Standard and Poor's confirmed that the 2008-09 State Budget was consistent with the State's AAA/A-1+ rating.

PDF document RatingsDirect - December 2008 (512 kb PDF)
PDF document Bulletin - May 2008 (338 kb PDF)
PDF document Research Update - September 2007 (429 kb PDF)
PDF document Bulletin - December 2006 (362 kb PDF)
PDF document Comparative Study of Victoria and its peers - March 2006 (1.8 mb PDF)
PDF document Media Release: Victoria - December 2005 (40 kb PDF)
PDF document Annual Research Report: Victoria - July 2005 (94 kb PDF)

For further information or queries, please contact:
Economic and Financial Policy Division
Tel: +(61-3) 9651 5305
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Related Links

News
Annual Reports
DTF's 2008-09 Annual Report is now available

Financial Reports
The Quarterly Financial Report for the period ending 30 September 2009 is now available.

Fire Levy
View the Fire Services Levy Green Paper

Reforming Victoria's public finance legislation
View submissions received in response to the discussion paper.

Budget Papers
View the 2009-10 Budget documents, as well as economic papers on employment and public infrastructure.